JPMorgan's New Notes Offer Up to 9.50% Monthly Interest Rate
JPMorgan Chase & Co has introduced a new investment product that allows investors to earn at least 9.50% per annum, paid monthly, on their principal amount of $1,000. The North America Structured Investments 18mNC6m NDX/RTY/SPX Auto Callable Contingent Interest Notes will be issued by JPMorgan Chase Financial Company LLC and guaranteed by JPMorgan Chase & Co.
The notes will track the performance of three major indices: the Nasdaq-100 Index, Russell 2000 Index, and S&P 500 Index. If any of these indices reaches or exceeds its initial value at any quarterly review date, the notes will be automatically called, and investors will receive a cash payment equal to their principal amount plus the contingent interest payment applicable to that review date.
If the notes are not called, they will mature on April 4, 2028. In this case, if the final value of any underlying index is less than its trigger value, investors will lose more than 30% of their principal amount at maturity and could lose all of it.