JPMorgan Chase & Co. Introduces Auto Callable Contingent Interest Notes on US Indices
JPMorgan Chase & Co. has introduced a new financial instrument that allows investors to bet on the performance of three major US stock market indices.
The North America Structured Investments 2yrNC6m NDX/RTY/SPX Auto Callable Contingent Interest Notes, offered by J.P. Morgan Structured Investments, have a minimum denomination of $1,000 and are backed by JPMorgan Chase Financial Company LLC as issuer and JPMorgan Chase & Co. as guarantor.
The notes will track the performance of the Nasdaq-100 Index, Russell 2000 Index, and S&P 500 Index. If any of these indices reach or exceed their initial value on an autocall review date, the notes will be automatically called, and investors will receive a cash payment equal to $1,000 plus the contingent interest payment applicable for that month.
If the final value of any underlying index is greater than or equal to its trigger value at maturity, investors will receive a cash payment of $1,000 plus the contingent interest payment. However, if the final value of any underlying index is less than its trigger value, investors may lose more than 40% of their principal amount.