Summary by Futu AI
JPMorgan Chase Financial Company LLC, a subsidiary of JPMorgan Chase & Co., has announced the offering of Capped Buffer GEARS, a debt security linked to the S&P 500 Index, with a maturity date of November 19, 2026. The securities are designed to provide investors with returns linked to the performance of the S&P 500, offering leveraged exposure to positive index performance up to a specified cap, while also providing a buffer against negative index performance, subject to certain conditions. The securities are unsecured and unsubordinated, with JPMorgan Chase & Co. fully and unconditionally guaranteeing the payments. The offering is subject to risks, including the potential loss of up to 90% of the principal amount invested. The securities will not pay dividends or interest, and their market value is subject to the creditworthiness of the issuer and guarantor. The securities are expected to be issued on November 20, 2024, following a trade date of November 15, 2024, and will not be listed on any securities exchange.
