JPMorgan Issues Crypto-Linked Notes with 18.10% Annualized Rate
JPMorgan Chase & Co. has issued Auto Callable Contingent Interest Notes linked to the performance of two exchange-traded funds (ETFs): iShares Bitcoin Trust ETF and iShares Ethereum Trust ETF.
The notes, which are fully and unconditionally guaranteed by JPMorgan Chase & Co., have a principal amount of $500,000 and are designed for investors seeking contingent interest payments tied to the performance of these two Funds.
If the closing price of one share of each Fund on any review date is greater than or equal to its Interest Barrier (60.00% of its initial value), investors will receive a Contingent Interest Payment, which is equivalent to an 18.10% annualized rate, payable monthly at a rate of 1.50833%. This payment will be in addition to any previously unpaid Contingent Interest Payments for prior review dates.
The notes are unsecured and unsubordinated obligations of JPMorgan Chase Financial Company LLC (JPMorgan Financial), which is fully and unconditionally guaranteed by JPMorgan Chase & Co. Investors should be aware that the Funds involve significant risks due to their association with cryptocurrencies, particularly bitcoin and ether, which have historically exhibited high price volatility.
The notes are priced at $1,000 per principal amount, with a total of $500,000 issued. The estimated value of the notes was $953.30 per $1,000 principal amount note when the terms were set.