Summary by Futu AI
JPMorgan Chase Financial Company LLC, referred to as JPMorgan Financial, has issued $7,385,000 in Buffered Callable Range Accrual Notes linked to the Nasdaq 100 Index, maturing on June 29, 2029. These unsecured and unsubordinated obligations are fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes, designed for investors who anticipate that the Nasdaq 100 Index will not fall below 85% of its initial value, offer a potential 7.30% annual interest rate, provided the index stays above the specified level on each Accrual Determination Date. If the index falls below this level, no interest will be paid for that period, and investors may lose up to 85% of their principal if the index's final value is below the buffer level. The notes were priced around June 25, 2024, with an expected settlement date of June 28, 2024. JPMorgan Financial may choose to redeem the notes before the maturity date, with the first possible redemption date being June 30, 2025. The notes are available in minimum denominations of $1,000 and are not insured by any governmental agency.