New York, Dec. 20 – JPMorgan Chase Financial Co. LLC priced $1 million of callable contingent interest notes due Dec. 20, 2028 linked to the S&P 500 index and the SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10%, paid quarterly, if each underlying asset closes at or above its 50% downside threshold on the relevant observation date.
The securities may be called at par on any quarterly determination date starting June 21, 2024.
If the worst performing asset finishes at or above its 50% downside threshold, the payout at maturity will be par plus the coupon.
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: | S&P 500 index and SPDR S&P Biotech ETF
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Amount: | $1 million
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Maturity: | Dec. 20, 2028
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Coupon: | 10%, paid quarterly, if each underlying asset closes at or above its 50% downside threshold on the relevant 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 quarterly determination date starting June 21, 2024
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Initial levels: | 4,719.19 for S&P 500, $85.72 for SPDR S&P Biotech ETF
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Downside thresholds: | 2,359.595 for S&P 500, $42.86 for SPDR S&P Biotech ETF, 50% of initial levels
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Pricing date: | Dec. 15
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Settlement date: | Dec. 20
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0%
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Cusip: | 48134R4A3
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