Published on 2/14/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $302,000 callable contingent interest notes on indexes, ETF
Chicago, Feb. 14 – JPMorgan Chase Financial Co. LLC priced $302,000 of callable contingent interest notes due Jan. 3, 2025 linked to the Nasdaq-100 Technology Sector index, Russell 2000 index and SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.5%, paid monthly, if each underlier closes at or above its 60% interest barrier level on the related observation date.
The securities may be called starting after three months at par on any monthly review date.
If the worst performing asset gains or ends above its 60% downside threshold the payout at maturity will be par plus the coupon. Investors will lose 1% for every 1% that the worst performing asset declines if it finishes below its downside threshold level.
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: | Callable contingent interest notes
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| Underlying assets: | Nasdaq-100 Technology Sector index, Russell 2000 index and SPDR S&P Regional Banking ETF
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| Amount: | $302,000
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| Maturity: | Jan. 3, 2025
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| Coupon: | 10.5%, paid monthly, if each underlier closes at or above its 60% interest barrier level on the related observation date
|
| Price: | Par
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| Payout at maturity: | If worst performing asset finishes at or above its downside threshold level, par; 1% loss for every 1% that worst performing asset declines if it finishes below its downside threshold level
|
| Call: | Starting after three months at par on any monthly review date
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| Initial levels: | 9,650.40 for Nasdaq tech, 2,058.335 for Russell, $53.26 for ETF
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| Interest barrier levels: | 5,790.24 for Nasdaq tech, 1,235.001 for Russell, $31.956 for ETF; 60% of initial levels
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| Downside thresholds: | 5,790.24 for Nasdaq tech, 1,235.001 for Russell, $31.956 for ETF; 60% of initial levels
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| Pricing date: | Dec. 28, 2023
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| Settlement date: | Jan. 3, 2024
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.70016%
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| Cusip: | 48134TFV1
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