Summary by Futu AI
JPMorgan Chase Financial Company LLC, a wholly owned subsidiary of JPMorgan Chase & Co., has announced the issuance of Auto Callable Contingent Interest Notes linked to Rivian Automotive, Inc.'s Class A common stock, with a maturity date of July 1, 2027. The notes, which are designed for investors seeking contingent interest payments based on the performance of Rivian's stock, will be automatically called if the stock price meets certain conditions on review dates. The first possible automatic call date is December 26, 2024. The notes are unsecured and unsubordinated, with JPMorgan Chase & Co. providing a full and unconditional guarantee. The pricing date for the notes is expected to be around June 26, 2024, with settlement around June 28, 2024. The notes carry risks, including the potential loss of principal and the possibility of receiving no interest payments. The offering is subject to completion and is not yet an offer to sell. The Securities and Exchange Commission has not approved or disapproved the notes, nor have they passed upon the accuracy of the preliminary pricing supplement.