Amer Shared Hosp SEC Filings

JPMorgan Chase Financial Company LLC is offering $80,000 aggregate principal of Auto Callable Contingent Interest Notes maturing 5 July 2030 and linked to the MerQube US Small-Cap Vol Advantage Index (MQUSSVA). The notes price at $1,000 per unit, settle on or about 3 July 2025 and are fully and unconditionally guaranteed by JPMorgan Chase & Co.

Income profile

• Contingent Interest Rate: 14.25% p.a. (3.5625% quarterly) payable only if, on a given Review Date, the Index closes at or above the Interest Barrier of 60% of the Initial Value (648.37 × 60% = 389.022).
• If the Index is below the Interest Barrier on a Review Date, no coupon is paid for that quarter.

Automatic call feature

• Starting 30 December 2025, if the Index closes at or above its Initial Value on any Review Date (other than the first and final), the notes are automatically called and investors receive $1,000 principal + accrued contingent interest; no further payments are made.

Principal repayment

• If not previously called and the Final Index Value is ≥ Trigger Value (60% of Initial), investors receive principal plus final contingent interest.
• If the Final Index Value is < Trigger Value, repayment equals $1,000 × (Final Value / Initial Value), exposing holders to up to 100% loss of principal.

Economic terms & fees

• Price to public: $1,000; selling commission: $5 (0.50%).
• Issuer proceeds: $995 per note.
• Estimated value at pricing: $929.70 per $1,000, reflecting structuring and hedging costs; secondary market values likely to be lower than issue price.

Reference index characteristics

• Rules-based exposure (0–500%) to E-mini Russell 2000 futures with weekly rebalancing to maintain a 35% volatility target.
• Subject to a steep 6% p.a. daily deduction that drags performance and must be overcome before positive returns accrue.
• Index launched June 2022; therefore exhibits limited live history and relies partly on back-tested data.

Key risks

• Principal at risk: investors may lose more than 40% and up to all of their investment.
• No guaranteed coupons: interest contingent on index level.
• Performance drag: 6% deduction and potential contango in futures can erode returns.
• Leverage & volatility: up to 5× exposure amplifies losses during sharp market moves.
• Credit risk: payment depends on JPMorgan Financial and JPMorgan Chase & Co.
• No listing / limited liquidity: resale depends on dealer bid.

Overall, the notes offer an above-market headline coupon and early-call potential but embed material downside, structural drags and complexity that make them suitable only for investors who understand leveraged volatility-controlled indices and can tolerate full principal loss.

American Shared Hospital Services (AMS) – Form 4 filing dated 06/30/2025 reports that Executive Chairman, Director and 10%+ owner Raymond C. Stachowiak received an award of 110,000 Restricted Stock Units (RSUs) on 06/26/2025 (Transaction Code A, price $0).

• Vesting schedule: 30,000 RSUs vest on each of June 27 2025 and July 2 2025; 25,000 RSUs vest on each of October 1 2025 and January 1 2026.
• Post-grant direct ownership rises to 664,678 common shares.
• Indirect holdings remain 158,500 shares through RCS Investments Inc. and 760,559 shares through Stachowiak Equity Fund LLC.
• Total beneficial ownership after the grant: ≈1.58 million shares.

The grant is part of executive compensation rather than an open-market purchase; nevertheless, it increases insider exposure and could be interpreted as a sign of continued commitment. No derivative securities were involved and no cash was exchanged, limiting near-term cash impact but introducing future dilution when RSUs convert to common shares.