Summary by Futu AI
On November 20, 2024, JPMorgan Chase Financial Company LLC announced the issuance of $1,455,000 Auto Callable Contingent Interest Notes linked to Verizon Communications Inc. stock, maturing on November 26, 2027. These notes offer contingent interest payments if Verizon's stock price meets specific criteria, with an 8.25% annual interest rate. Automatic call may occur if the stock price equals or exceeds the initial value on review dates, starting May 20, 2025.Investors face risks, including potential loss of principal and no guaranteed interest payments. The notes are unsecured, with payments subject to JPMorgan's credit risk. The estimated value of the notes is $955.30 per $1,000, lower than the issue price due to associated costs.The notes are not insured by the FDIC and are not bank deposits. They are designed for investors willing to accept risks for potential contingent interest payments, foregoing fixed interest and dividends.