Published on 1/31/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.39 million callable contingent interest notes on three stocks
Chicago, Jan. 31 – JPMorgan Chase Financial Co. LLC sold $1.39 million of callable contingent interest notes due April 11, 2025 linked to the least performing of the stock performance of Amazon.com, Inc., Oracle Corp. and Nvidia Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent monthly coupon at an annual rate of 13.25% if each stock closes at or above its interest barrier level, 70% of its initial level, on the review date for that month.
The notes will be callable at par on any monthly call date after six months.
The payout at maturity will be par plus the final coupon unless any stock finishes below its 70% buffer threshold, in which case investors will lose 1% for each 1% decline of the worst performing stock beyond the 30% buffer.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Callable contingent interest notes
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| Underlying stocks: | Amazon.com, Inc., Oracle Corp. and Nvidia Corp.
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| Amount: | $1,385,000
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| Maturity: | April 11, 2025
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| Coupon: | 13.25% annualized, payable monthly if each underlying stock closes at or above interest barrier level on review date for that month
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon unless any stock finishes below buffer level, in which case 1% loss for each 1% decline of worst performing stock beyond 30% buffer
|
| Call option: | At par on any monthly call date after six months
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| Initial levels: | $149.10 for Amazon, $104.66 for Oracle, $522.53 for Nvidia
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| Interest barriers: | $104.37 for Amazon, $73.262 for Oracle, $365.771 for Nvidia; 70% of initial levels
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| Buffer levels: | $104.37 for Amazon, $73.262 for Oracle, $365.771 for Nvidia; 70% of initial levels
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| Pricing date: | Jan. 8
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| Settlement date: | Jan. 11
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.725%
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| Cusip: | 48134TLE2
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