Published on 1/19/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $3.43 million autocallable contingent interest notes on ETFs, index
New York, Jan. 19 – JPMorgan Chase Financial Co. LLC priced $3.43 million of autocallable contingent interest notes due Dec. 17, 2025 linked to the Health Care Select Sector SPDR Fund, the Russell 2000 index and the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date.
The securities will be called automatically at par if the closing level of each underlier is greater than or equal to its initial level on any monthly review date starting July 12, 2024.
At maturity, the payout will be par unless the worst performing asset finishes below its 60% trigger level, in which case investors will be fully exposed to the decline of the worst performing asset.
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 contingent interest notes
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Underlying assets: | Health Care Select Sector SPDR Fund, Russell 2000 index and SPDR S&P Regional Banking ETF
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Amount: | $3,425,000
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Maturity: | Dec. 17, 2025
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Coupon: | 13%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date
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Price: | Par
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Payout at maturity: | Par unless the worst performing asset finishes below its trigger level, in which case investors will be fully exposed to the decline in the worst performing asset
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Call: | Automatically at par if the closing level of each underlier is greater than or equal to its initial level on any monthly review date starting July 12, 2024
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Initial levels: | $140.52 for Health Care Select Sector SPDR Fund, 1,950.964 for Russell 2000, $50.39 for SPDR S&P Regional Banking ETF
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Trigger levels: | $84.312 for Health Care Select Sector SPDR Fund, 1,170.5784 for Russell 2000, $30.234 for SPDR S&P Regional Banking ETF, 60% of initial levels
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Coupon barriers: | $98.364 for Health Care Select Sector SPDR Fund, 1,365.6748 for Russell 2000, $35.273 for SPDR S&P Regional Banking ETF, 70% of initial levels
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Pricing date: | Jan. 12
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Settlement date: | Jan. 18
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.70376%
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Cusip: | 48134TPZ1
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