Published on 4/10/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $6.61 million callable contingent interest notes on two ETFs, index
New York, April 10 – JPMorgan Chase Financial Co. LLC priced $6.61 million of callable contingent interest notes due March 5, 2026 linked to the Russell 2000 index, the SPDR S&P Regional Banking ETF and the iShares MSCI Eurozone ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.45%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date.
The securities may be called at par on any monthly review date starting Oct. 3, 2024.
If the worst performing asset finishes at or above its 65% downside threshold, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the worst performing asset declines from initial 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: | Russell 2000 index, SPDR S&P Regional Banking ETF and iShares MSCI Eurozone ETF
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| Amount: | $6,609,000
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| Maturity: | March 5, 2026
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| Coupon: | 12.45%, 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: | If worst performing asset finishes at or above its downside threshold level, par; otherwise, 1% loss for every 1% that worst performing asset declines from initial level
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| Call option: | At par on any monthly review date starting Oct. 3, 2024
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| Initial levels: | 2,124.547 for Russell 2000, $50.28 for SPDR S&P Regional Banking ETF, $51.06 for iShares MSCI Eurozone ETF
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| Downside thresholds: | 1,380.95555 for Russell 2000, $32.682 for SPDR S&P Regional Banking ETF, $33.189 for iShares MSCI Eurozone ETF, 65% of initial levels
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| Coupon barriers: | 1,487.1829 for Russell 2000, $35.196 for SPDR S&P Regional Banking ETF, $35.742 for iShares MSCI Eurozone ETF, 70% of initial levels
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| Pricing date: | March 28
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| Settlement date: | April 3
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.72171%
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| Cusip: | 48134XLQ6
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