JPMorgan Chase Introduces Gold-Backed Financial Instrument with Contingent Interest Payments

JPMorgan Chase & Co. has issued a new financial instrument tied to the MerQube US Gold Vol Advantage Index, which tracks gold prices and volatility.

The notes will pay out a contingent interest payment of $30.625 per quarter if the index level is above its interest barrier on any review date, for an annual rate of 12.25%.

If the index falls below the trigger value, investors may lose more than 40% of their principal amount at maturity.