Summary by Futu AI
JPMorgan Chase Financial Company LLC, a wholly owned subsidiary of JPMorgan Chase & Co., has announced the issuance of Yield Notes linked to the performance of the S&P 500 Index and the Nasdaq-100 Index, with a maturity date of September 18, 2025. The notes, which are designed to pay a minimum interest of 7.10% per annum, are aimed at investors seeking higher interest rates than conventional debt securities with the same maturity. The notes are unsecured and unsubordinated obligations guaranteed by JPMorgan Chase & Co. The pricing date is expected to be around June 14, 2024, with a settlement date around June 20, 2024. The notes are not bank deposits, are not FDIC insured, and involve a number of risks, including the potential loss of principal. The notes will be sold in minimum denominations of $1,000 and integral multiples thereof. The estimated value of the notes at the time of pricing is expected to be no less than $980.00 per $1,000 principal amount note. The notes are not designed to be short-term trading instruments and may not have a liquid secondary market.