Summary by Moomoo AI
JPMorgan Chase Financial Company LLC, a wholly owned subsidiary of JPMorgan Chase & Co., has issued $1,000,000 in Digital Notes linked to the 1-Year U.S. Dollar SOFR ICE Swap Rate, with a maturity date of August 7, 2025. The notes, which are designed for investors seeking a fixed return of 10.00% at maturity, are contingent on the performance of the Reference Rate, which should not decline from the Reference Strike Rate by more than 44.95%. The notes are unsecured and unsubordinated, with JPMorgan Chase & Co. providing a full and unconditional guarantee. The notes do not pay periodic interest, and the principal is at risk if the Reference Rate falls below a certain threshold. The offering includes minimum denominations of $10,000 and multiples of $1,000 thereafter. The notes were priced on July 23, 2024, with an original issue date projected for July 26, 2024. The estimated value of the notes at the time of pricing was $977.10 per $1,000 principal amount note. The notes are not bank deposits, are not FDIC insured, and involve investment risks including potential loss of principal.