Summary by Futu AI
On November 22, 2024, JPMorgan Chase Financial Company LLC announced the issuance of Performance Leveraged Upside Securities (PLUS) based on the S&P 500 Index, maturing on January 2, 2026. These securities offer a 200% leverage on positive index performance, with a maximum payment cap of at least $1,116 per $1,000 principal. However, they carry principal risk, as investors may lose 1% for every 1% decline in the index.The PLUS are unsecured obligations of JPMorgan Chase Financial, guaranteed by JPMorgan Chase & Co. They are not listed on any exchange, and secondary market trading may be limited. The estimated value of the PLUS will be provided in the pricing supplement, with a minimum value of $950 per $1,000 principal.Investors should consider the risks, including credit risk and potential loss of principal, and consult advisors regarding tax implications. The PLUS are designed for those seeking equity-based returns with leverage, willing to forgo current income and accept potential losses.