JPMorgan Chase Introduces New Notes Linked to Major Stocks
JPMorgan Chase & Co. has announced a new financial product that allows investors to bet on the performance of several major stocks.
The notes, which are issued by JPMorgan Chase Financial Company LLC, will pay out a minimum of $14 per $1,000 invested if the closing price of one share of each reference stock is greater than or equal to its interest barrier on any review date.
If the closing price falls below the interest barrier, no contingent interest payment will be made for that review date. The notes will automatically call if the closing price of one share of each reference stock is greater than or equal to its initial value on any review date (other than the first through fifth and final review dates).
Investors who hold their notes until maturity can expect a payment at maturity based on the performance of the least performing reference stock, with potential losses up to 40% of the principal amount.