Published on 2/27/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $680,000 12.45% autocallable yield notes linked to stocks
New York, Feb. 27 – JPMorgan Chase Financial Co. LLC priced $680,000 of autocallable yield notes due Jan. 29, 2025 linked to the worst performing of the common stocks of Allstate Corp., Nasdaq, Inc. and Thermo Fisher Scientific Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive an annual coupon of 12.45%, paid quarterly.
The securities will be called automatically at par starting after six months on quarterly review dates if the price of the worst performing stock is greater than or equal to its closing price.
If the worst performing stock finishes at or above the 70% trigger value, the payout at maturity will be par. Otherwise investors will lose 1% loss for every 1% that the worst performing stock declines.
The notes are guaranteed by JPMorgan Chase & Co.
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: | Autocallable yield notes
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| Underlying stocks: | Allstate Corp. (Ticker: All), Nasdaq, Inc. (Ticker: NDAQ), Thermo Fisher Scientific Inc. (Ticker: TMO)
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| Amount: | $680,000
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| Maturity: | Jan. 29, 2025
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| Coupon: | 12.45% annual rate, payable quarterly
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| Price: | Par
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| Payout at maturity: | If worst performing stock finishes at or above trigger value, par; 1% loss for every 1% that worst performing stock declines if it ends below trigger value
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| Call: | Automatically at par starting after six months on quarterly review datesif the price of the worst stock is greater than or equal to its strike price
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| Initial levels: | $151.03 for Allstate, $56.93 for Nasdaq, $544.32 for Thermo Fisher
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| Trigger levels: | $105.721 for Allstate, $39.851 for Nasdaq, $381.024 for Thermo Fisher; 70% of initial levels
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| Pricing date: | Jan. 16, 2024
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| Settlement date: | Jan. 25, 2024
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.5%
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| Cusip: | 48134TWB6
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