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[Form 4] ClearPoint Neuro, Inc. Insider Trading Activity

Filing Impact
(Low)
Filing Sentiment
(Neutral)
Form Type
4
Rhea-AI Filing Summary

JPMorgan Chase Financial Company LLC is offering Auto Callable Accelerated Barrier Notes linked individually to the Nasdaq-100 (NDX), Russell 2000 (RTY) and S&P 500 (SPX) indices. The notes are unsecured, unsubordinated obligations of JPMorgan Chase Financial and are fully and unconditionally guaranteed by JPMorgan Chase & Co. Key commercial terms are still preliminary and will be finalized on or about July 28 2025, with settlement expected on July 31 2025 and maturity on August 2 2028.

  • Automatic call feature: If on any non-final Review Date (July 31 2026 or July 28 2027) the closing level of each index is at or above 100 % of its Initial Value, the notes will be redeemed early for $1,000 plus the applicable Call Premium Amount (≥ 12.55 % or ≥ 25.10 %).
  • Upside participation at maturity: If not called and all three indices finish above their Initial Values on the final Review Date, investors receive 1.50× the percentage gain of the worst-performing index (uncapped).
  • Barrier protection: 70 % of Initial Value for each index. If any index closes below its barrier on the final Review Date, principal is reduced one-for-one with the decline of the worst performer, exposing investors to losses up to 100 %.
  • Indicative economics: Estimated value today is $945.30 per $1,000 note (minimum ≥ $900.00), reflecting selling commissions (≤ $30) and structuring/hedging costs included in the $1,000 issue price.
  • Liquidity & credit: The notes will not be listed; secondary prices depend on JPMS bid. Payment is subject to the credit of both the issuer and guarantor.

Investors forgo periodic coupons and dividends, face potential early redemption that caps upside, and assume index, market-volatility, credit and liquidity risks as detailed in the extensive “Selected Risk Considerations.”

JPMorgan Chase Financial Company LLC offre Note Auto Callable Accelerated Barrier collegate singolarmente agli indici Nasdaq-100 (NDX), Russell 2000 (RTY) e S&P 500 (SPX). Le note sono obbligazioni non garantite e non subordinate di JPMorgan Chase Financial, garantite in modo pieno e incondizionato da JPMorgan Chase & Co. I termini commerciali chiave sono ancora preliminari e saranno definiti intorno al 28 luglio 2025, con regolamento previsto per il 31 luglio 2025 e scadenza il 2 agosto 2028.

  • Funzione di richiamo automatico: Se in una qualsiasi Data di Revisione non finale (31 luglio 2026 o 28 luglio 2027) il livello di chiusura di ciascun indice è pari o superiore al 100% del suo Valore Iniziale, le note saranno rimborsate anticipatamente a $1.000 più il Premio di Richiamo applicabile (≥ 12,55% o ≥ 25,10%).
  • Partecipazione al rialzo a scadenza: Se non richiamate e tutti e tre gli indici chiudono sopra i loro Valori Iniziali alla Data di Revisione finale, gli investitori ricevono 1,50× la percentuale di guadagno dell’indice con la performance peggiore (senza limite massimo).
  • Protezione barriera: 70% del Valore Iniziale per ogni indice. Se un indice chiude sotto la barriera alla Data di Revisione finale, il capitale viene ridotto in proporzione alla perdita dell’indice peggiore, esponendo gli investitori a perdite fino al 100%.
  • Economia indicativa: Il valore stimato oggi è di $945,30 per ogni nota da $1.000 (minimo ≥ $900,00), includendo commissioni di vendita (≤ $30) e costi di strutturazione/copertura inclusi nel prezzo di emissione di $1.000.
  • Liquidità e credito: Le note non saranno quotate; i prezzi secondari dipendono dall’offerta di JPMS. Il pagamento è soggetto al merito creditizio sia dell’emittente che del garante.

Gli investitori rinunciano a cedole periodiche e dividendi, affrontano un potenziale rimborso anticipato che limita il guadagno massimo e assumono rischi legati agli indici, alla volatilità di mercato, al credito e alla liquidità come dettagliato nelle estese “Considerazioni sui Rischi Selezionati.”

JPMorgan Chase Financial Company LLC ofrece Notas Auto Callable Accelerated Barrier vinculadas individualmente a los índices Nasdaq-100 (NDX), Russell 2000 (RTY) y S&P 500 (SPX). Las notas son obligaciones no garantizadas y no subordinadas de JPMorgan Chase Financial, garantizadas total e incondicionalmente por JPMorgan Chase & Co. Los términos comerciales clave aún son preliminares y se finalizarán alrededor del 28 de julio de 2025, con liquidación prevista para el 31 de julio de 2025 y vencimiento el 2 de agosto de 2028.

  • Función de llamado automático: Si en cualquier Fecha de Revisión no final (31 de julio de 2026 o 28 de julio de 2027) el nivel de cierre de cada índice está en o por encima del 100% de su Valor Inicial, las notas serán redimidas anticipadamente por $1,000 más la Prima de Llamado aplicable (≥ 12.55% o ≥ 25.10%).
  • Participación al alza al vencimiento: Si no son llamadas y los tres índices terminan por encima de sus Valores Iniciales en la Fecha de Revisión final, los inversores reciben 1.50× el porcentaje de ganancia del índice con peor desempeño (sin límite).
  • Protección de barrera: 70% del Valor Inicial para cada índice. Si algún índice cierra por debajo de su barrera en la Fecha de Revisión final, el principal se reduce uno a uno con la caída del peor índice, exponiendo a los inversores a pérdidas de hasta el 100%.
  • Economía indicativa: El valor estimado hoy es de $945.30 por cada nota de $1,000 (mínimo ≥ $900.00), reflejando comisiones de venta (≤ $30) y costos de estructuración/cobertura incluidos en el precio de emisión de $1,000.
  • Liquidez y crédito: Las notas no estarán listadas; los precios secundarios dependen de la oferta de JPMS. El pago está sujeto al crédito tanto del emisor como del garante.

Los inversores renuncian a cupones periódicos y dividendos, enfrentan un posible reembolso anticipado que limita la ganancia máxima y asumen riesgos de índice, volatilidad del mercado, crédito y liquidez como se detalla en las extensas “Consideraciones Seleccionadas de Riesgo.”

JPMorgan Chase Financial Company LLC는 나스닥-100(NDX), 러셀 2000(RTY), S&P 500(SPX) 지수에 개별적으로 연계된 자동 콜 가능 가속 장벽 노트를 제공합니다. 이 노트는 JPMorgan Chase Financial의 무담보, 비종속 채무이며 JPMorgan Chase & Co.가 전면적이고 무조건적으로 보증합니다. 주요 상업 조건은 아직 예비 단계이며 2025년 7월 28일경에 최종 확정되며, 결제는 2025년 7월 31일, 만기는 2028년 8월 2일입니다.

  • 자동 콜 기능: 최종 검토일이 아닌 어느 날(2026년 7월 31일 또는 2027년 7월 28일)에 지수의 종가가 초기 가치의 100% 이상이면, 노트는 $1,000에 해당 콜 프리미엄 금액(≥ 12.55% 또는 ≥ 25.10%)을 더해 조기 상환됩니다.
  • 만기 시 상승 참여: 콜되지 않고 세 지수 모두 최종 검토일에 초기 가치 이상으로 마감하면, 투자자는 최저 성과 지수의 상승률에 1.50배를 곱한 금액을 받습니다(상한 없음).
  • 장벽 보호: 각 지수 초기 가치의 70%. 최종 검토일에 어느 지수라도 장벽 아래로 마감하면, 원금은 최저 성과 지수의 하락률에 따라 1:1로 감소하여 투자자는 최대 100% 손실 위험에 노출됩니다.
  • 예상 경제성: 현재 추정 가치는 $1,000 노트당 $945.30 (최소 ≥ $900.00)이며, 판매 수수료(≤ $30)와 구조화/헤지 비용이 $1,000 발행가에 포함되어 있습니다.
  • 유동성 및 신용: 노트는 상장되지 않으며, 2차 가격은 JPMS 입찰에 따라 결정됩니다. 지급은 발행자 및 보증인의 신용 상태에 따라 달라집니다.

투자자는 정기 쿠폰과 배당금을 포기하며, 상승 잠재력을 제한하는 조기 상환 위험에 직면하고, 지수, 시장 변동성, 신용 및 유동성 위험을 광범위한 “선택된 위험 고려사항”에 명시된 대로 감수합니다.

JPMorgan Chase Financial Company LLC propose des Notes Auto Callable Accelerated Barrier liées individuellement aux indices Nasdaq-100 (NDX), Russell 2000 (RTY) et S&P 500 (SPX). Ces notes sont des obligations non sécurisées et non subordonnées de JPMorgan Chase Financial, garanties de manière complète et inconditionnelle par JPMorgan Chase & Co. Les conditions commerciales clés sont encore préliminaires et seront finalisées aux alentours du 28 juillet 2025, avec un règlement prévu le 31 juillet 2025 et une échéance le 2 août 2028.

  • Option de rappel automatique : Si, à une date de revue non finale (31 juillet 2026 ou 28 juillet 2027), le niveau de clôture de chaque indice est égal ou supérieur à 100 % de sa valeur initiale, les notes seront remboursées par anticipation à 1 000 $ plus la prime de rappel applicable (≥ 12,55 % ou ≥ 25,10 %).
  • Participation à la hausse à l’échéance : Si les notes ne sont pas rappelées et que les trois indices terminent au-dessus de leurs valeurs initiales à la date de revue finale, les investisseurs reçoivent 1,50× le pourcentage de gain de l’indice le moins performant (sans plafond).
  • Protection par barrière : 70 % de la valeur initiale pour chaque indice. Si un indice clôture en dessous de sa barrière à la date de revue finale, le capital est réduit à due concurrence de la baisse du pire indice, exposant les investisseurs à des pertes pouvant aller jusqu’à 100 %.
  • Économie indicative : La valeur estimée aujourd’hui est de 945,30 $ par note de 1 000 $ (minimum ≥ 900,00 $), incluant les commissions de vente (≤ 30 $) et les coûts de structuration/couverture inclus dans le prix d’émission de 1 000 $.
  • Liquidité et crédit : Les notes ne seront pas cotées ; les prix secondaires dépendent des offres de JPMS. Le paiement est soumis à la solvabilité de l’émetteur et du garant.

Les investisseurs renoncent aux coupons périodiques et aux dividendes, s’exposent à un remboursement anticipé potentiel limitant le potentiel de gain, et assument les risques liés aux indices, à la volatilité du marché, au crédit et à la liquidité, comme détaillé dans les « Considérations Sélectives sur les Risques » étendues.

JPMorgan Chase Financial Company LLC bietet Auto Callable Accelerated Barrier Notes an, die einzeln an die Nasdaq-100 (NDX), Russell 2000 (RTY) und S&P 500 (SPX) Indizes gekoppelt sind. Die Notes sind unbesicherte, nicht nachrangige Verbindlichkeiten von JPMorgan Chase Financial und werden uneingeschränkt und bedingungslos von JPMorgan Chase & Co. garantiert. Die wesentlichen kommerziellen Bedingungen sind noch vorläufig und werden etwa am 28. Juli 2025 finalisiert, die Abwicklung ist für den 31. Juli 2025 geplant, die Fälligkeit am 2. August 2028.

  • Automatische Rückrufoption: Wenn an einem nicht endgültigen Überprüfungstermin (31. Juli 2026 oder 28. Juli 2027) der Schlusskurs jedes einzelnen Index auf oder über 100 % seines Anfangswerts liegt, werden die Notes vorzeitig zu $1.000 plus der entsprechenden Rückrufprämie (≥ 12,55 % oder ≥ 25,10 %) zurückgezahlt.
  • Aufwärtsteilnahme bei Fälligkeit: Wenn die Notes nicht zurückgerufen werden und alle drei Indizes am endgültigen Überprüfungstermin über ihren Anfangswerten schließen, erhalten die Anleger das 1,50-fache der prozentualen Steigerung des am schlechtesten performenden Index (ohne Obergrenze).
  • Barriere-Schutz: 70 % des Anfangswerts für jeden Index. Schließt ein Index am endgültigen Überprüfungstermin unter seiner Barriere, wird das Kapital entsprechend dem Rückgang des schlechtesten Index eins zu eins reduziert, wodurch Anleger einem Verlust von bis zu 100 % ausgesetzt sind.
  • Indikative Wirtschaftlichkeit: Der heutige geschätzte Wert beträgt $945,30 pro $1.000 Note (Minimum ≥ $900,00), was Verkaufskommissionen (≤ $30) sowie Strukturierungs- und Absicherungskosten im Ausgabepreis von $1.000 berücksichtigt.
  • Liquidität & Kredit: Die Notes werden nicht börslich gehandelt; Sekundärpreise hängen vom Gebot von JPMS ab. Zahlungen unterliegen der Bonität sowohl des Emittenten als auch des Garanten.

Investoren verzichten auf periodische Kupons und Dividenden, tragen ein potenzielles vorzeitiges Rückzahlungsrisiko, das die Aufwärtschancen begrenzt, und übernehmen Index-, Marktvolatilitäts-, Kredit- und Liquiditätsrisiken, die in den ausführlichen „Ausgewählten Risikohinweisen“ beschrieben sind.

Positive
  • 1.50× upside participation on the worst-performing index if held to maturity and not called, providing uncapped appreciation potential.
  • Conditional principal protection down to a 30 % decline via the 70 % barrier on each index.
  • Attractive call premiums of at least 12.55 % and 25.10 % enable double-digit returns in as little as one year if indices stay flat or rise modestly.
Negative
  • Principal loss risk: any index finishing below the 70 % barrier results in one-for-one loss, up to total capital erosion.
  • Early call truncates upside: automatic redemption caps gains at the fixed premium, eliminating the 1.5× leverage for strong markets.
  • Pricing drag: estimated value is $945.30 vs. $1,000 issue price, reflecting ~5 % embedded costs.
  • No liquidity listing: secondary sales depend solely on JPMS bids, which may be well below theoretical value.
  • Credit exposure: payments rely on JPMorgan Chase Financial and JPMorgan Chase & Co. creditworthiness.

Insights

TL;DR – Structured note offers 1.5× upside and 70 % barrier but early call limits gains; credit & pricing drag apply.

The product combines three popular U.S. equity benchmarks with an auto-call profile frequently used to monetise near-term market strength. Investors receive at least 12.55 % or 25.10 % premiums if all indices breach par in years 1 or 2, but lose the 1.5× multiplier in such scenarios. The 70 % barrier provides conditional principal protection; however historic drawdowns (e.g., March 2020) show breaches are plausible, especially for the higher-beta RTY. The indicative fair value (94.5 % of par) reveals roughly 5.5 % embedded fees at launch, a typical margin for retail structured notes. Absence of coupons and likely limited liquidity make the instrument suitable only for investors with a defined tactical view and high risk tolerance. Credit exposure to JPMorgan is investment-grade but non-trivial for a 3-year horizon.

TL;DR – From a portfolio view, note is a leveraged equity bet with asymmetric payoff; neutral for JPM, niche for investors.

The note’s payoff effectively sells downside beyond –30 % while buying 1.5× upside above breakeven, with an automatic call acting like a short volatility overlay. This structure may complement income-seeking portfolios starved of yield, yet the early-call risk truncates tail gains, making total expected return modest after fees. For JPMorgan Chase & Co., issuance is routine treasury activity, generating spread income and hedging flows; the transaction is not material to corporate financials. Impact on broad markets is negligible, so I classify the event as not impactful for the issuer.

JPMorgan Chase Financial Company LLC offre Note Auto Callable Accelerated Barrier collegate singolarmente agli indici Nasdaq-100 (NDX), Russell 2000 (RTY) e S&P 500 (SPX). Le note sono obbligazioni non garantite e non subordinate di JPMorgan Chase Financial, garantite in modo pieno e incondizionato da JPMorgan Chase & Co. I termini commerciali chiave sono ancora preliminari e saranno definiti intorno al 28 luglio 2025, con regolamento previsto per il 31 luglio 2025 e scadenza il 2 agosto 2028.

  • Funzione di richiamo automatico: Se in una qualsiasi Data di Revisione non finale (31 luglio 2026 o 28 luglio 2027) il livello di chiusura di ciascun indice è pari o superiore al 100% del suo Valore Iniziale, le note saranno rimborsate anticipatamente a $1.000 più il Premio di Richiamo applicabile (≥ 12,55% o ≥ 25,10%).
  • Partecipazione al rialzo a scadenza: Se non richiamate e tutti e tre gli indici chiudono sopra i loro Valori Iniziali alla Data di Revisione finale, gli investitori ricevono 1,50× la percentuale di guadagno dell’indice con la performance peggiore (senza limite massimo).
  • Protezione barriera: 70% del Valore Iniziale per ogni indice. Se un indice chiude sotto la barriera alla Data di Revisione finale, il capitale viene ridotto in proporzione alla perdita dell’indice peggiore, esponendo gli investitori a perdite fino al 100%.
  • Economia indicativa: Il valore stimato oggi è di $945,30 per ogni nota da $1.000 (minimo ≥ $900,00), includendo commissioni di vendita (≤ $30) e costi di strutturazione/copertura inclusi nel prezzo di emissione di $1.000.
  • Liquidità e credito: Le note non saranno quotate; i prezzi secondari dipendono dall’offerta di JPMS. Il pagamento è soggetto al merito creditizio sia dell’emittente che del garante.

Gli investitori rinunciano a cedole periodiche e dividendi, affrontano un potenziale rimborso anticipato che limita il guadagno massimo e assumono rischi legati agli indici, alla volatilità di mercato, al credito e alla liquidità come dettagliato nelle estese “Considerazioni sui Rischi Selezionati.”

JPMorgan Chase Financial Company LLC ofrece Notas Auto Callable Accelerated Barrier vinculadas individualmente a los índices Nasdaq-100 (NDX), Russell 2000 (RTY) y S&P 500 (SPX). Las notas son obligaciones no garantizadas y no subordinadas de JPMorgan Chase Financial, garantizadas total e incondicionalmente por JPMorgan Chase & Co. Los términos comerciales clave aún son preliminares y se finalizarán alrededor del 28 de julio de 2025, con liquidación prevista para el 31 de julio de 2025 y vencimiento el 2 de agosto de 2028.

  • Función de llamado automático: Si en cualquier Fecha de Revisión no final (31 de julio de 2026 o 28 de julio de 2027) el nivel de cierre de cada índice está en o por encima del 100% de su Valor Inicial, las notas serán redimidas anticipadamente por $1,000 más la Prima de Llamado aplicable (≥ 12.55% o ≥ 25.10%).
  • Participación al alza al vencimiento: Si no son llamadas y los tres índices terminan por encima de sus Valores Iniciales en la Fecha de Revisión final, los inversores reciben 1.50× el porcentaje de ganancia del índice con peor desempeño (sin límite).
  • Protección de barrera: 70% del Valor Inicial para cada índice. Si algún índice cierra por debajo de su barrera en la Fecha de Revisión final, el principal se reduce uno a uno con la caída del peor índice, exponiendo a los inversores a pérdidas de hasta el 100%.
  • Economía indicativa: El valor estimado hoy es de $945.30 por cada nota de $1,000 (mínimo ≥ $900.00), reflejando comisiones de venta (≤ $30) y costos de estructuración/cobertura incluidos en el precio de emisión de $1,000.
  • Liquidez y crédito: Las notas no estarán listadas; los precios secundarios dependen de la oferta de JPMS. El pago está sujeto al crédito tanto del emisor como del garante.

Los inversores renuncian a cupones periódicos y dividendos, enfrentan un posible reembolso anticipado que limita la ganancia máxima y asumen riesgos de índice, volatilidad del mercado, crédito y liquidez como se detalla en las extensas “Consideraciones Seleccionadas de Riesgo.”

JPMorgan Chase Financial Company LLC는 나스닥-100(NDX), 러셀 2000(RTY), S&P 500(SPX) 지수에 개별적으로 연계된 자동 콜 가능 가속 장벽 노트를 제공합니다. 이 노트는 JPMorgan Chase Financial의 무담보, 비종속 채무이며 JPMorgan Chase & Co.가 전면적이고 무조건적으로 보증합니다. 주요 상업 조건은 아직 예비 단계이며 2025년 7월 28일경에 최종 확정되며, 결제는 2025년 7월 31일, 만기는 2028년 8월 2일입니다.

  • 자동 콜 기능: 최종 검토일이 아닌 어느 날(2026년 7월 31일 또는 2027년 7월 28일)에 지수의 종가가 초기 가치의 100% 이상이면, 노트는 $1,000에 해당 콜 프리미엄 금액(≥ 12.55% 또는 ≥ 25.10%)을 더해 조기 상환됩니다.
  • 만기 시 상승 참여: 콜되지 않고 세 지수 모두 최종 검토일에 초기 가치 이상으로 마감하면, 투자자는 최저 성과 지수의 상승률에 1.50배를 곱한 금액을 받습니다(상한 없음).
  • 장벽 보호: 각 지수 초기 가치의 70%. 최종 검토일에 어느 지수라도 장벽 아래로 마감하면, 원금은 최저 성과 지수의 하락률에 따라 1:1로 감소하여 투자자는 최대 100% 손실 위험에 노출됩니다.
  • 예상 경제성: 현재 추정 가치는 $1,000 노트당 $945.30 (최소 ≥ $900.00)이며, 판매 수수료(≤ $30)와 구조화/헤지 비용이 $1,000 발행가에 포함되어 있습니다.
  • 유동성 및 신용: 노트는 상장되지 않으며, 2차 가격은 JPMS 입찰에 따라 결정됩니다. 지급은 발행자 및 보증인의 신용 상태에 따라 달라집니다.

투자자는 정기 쿠폰과 배당금을 포기하며, 상승 잠재력을 제한하는 조기 상환 위험에 직면하고, 지수, 시장 변동성, 신용 및 유동성 위험을 광범위한 “선택된 위험 고려사항”에 명시된 대로 감수합니다.

JPMorgan Chase Financial Company LLC propose des Notes Auto Callable Accelerated Barrier liées individuellement aux indices Nasdaq-100 (NDX), Russell 2000 (RTY) et S&P 500 (SPX). Ces notes sont des obligations non sécurisées et non subordonnées de JPMorgan Chase Financial, garanties de manière complète et inconditionnelle par JPMorgan Chase & Co. Les conditions commerciales clés sont encore préliminaires et seront finalisées aux alentours du 28 juillet 2025, avec un règlement prévu le 31 juillet 2025 et une échéance le 2 août 2028.

  • Option de rappel automatique : Si, à une date de revue non finale (31 juillet 2026 ou 28 juillet 2027), le niveau de clôture de chaque indice est égal ou supérieur à 100 % de sa valeur initiale, les notes seront remboursées par anticipation à 1 000 $ plus la prime de rappel applicable (≥ 12,55 % ou ≥ 25,10 %).
  • Participation à la hausse à l’échéance : Si les notes ne sont pas rappelées et que les trois indices terminent au-dessus de leurs valeurs initiales à la date de revue finale, les investisseurs reçoivent 1,50× le pourcentage de gain de l’indice le moins performant (sans plafond).
  • Protection par barrière : 70 % de la valeur initiale pour chaque indice. Si un indice clôture en dessous de sa barrière à la date de revue finale, le capital est réduit à due concurrence de la baisse du pire indice, exposant les investisseurs à des pertes pouvant aller jusqu’à 100 %.
  • Économie indicative : La valeur estimée aujourd’hui est de 945,30 $ par note de 1 000 $ (minimum ≥ 900,00 $), incluant les commissions de vente (≤ 30 $) et les coûts de structuration/couverture inclus dans le prix d’émission de 1 000 $.
  • Liquidité et crédit : Les notes ne seront pas cotées ; les prix secondaires dépendent des offres de JPMS. Le paiement est soumis à la solvabilité de l’émetteur et du garant.

Les investisseurs renoncent aux coupons périodiques et aux dividendes, s’exposent à un remboursement anticipé potentiel limitant le potentiel de gain, et assument les risques liés aux indices, à la volatilité du marché, au crédit et à la liquidité, comme détaillé dans les « Considérations Sélectives sur les Risques » étendues.

JPMorgan Chase Financial Company LLC bietet Auto Callable Accelerated Barrier Notes an, die einzeln an die Nasdaq-100 (NDX), Russell 2000 (RTY) und S&P 500 (SPX) Indizes gekoppelt sind. Die Notes sind unbesicherte, nicht nachrangige Verbindlichkeiten von JPMorgan Chase Financial und werden uneingeschränkt und bedingungslos von JPMorgan Chase & Co. garantiert. Die wesentlichen kommerziellen Bedingungen sind noch vorläufig und werden etwa am 28. Juli 2025 finalisiert, die Abwicklung ist für den 31. Juli 2025 geplant, die Fälligkeit am 2. August 2028.

  • Automatische Rückrufoption: Wenn an einem nicht endgültigen Überprüfungstermin (31. Juli 2026 oder 28. Juli 2027) der Schlusskurs jedes einzelnen Index auf oder über 100 % seines Anfangswerts liegt, werden die Notes vorzeitig zu $1.000 plus der entsprechenden Rückrufprämie (≥ 12,55 % oder ≥ 25,10 %) zurückgezahlt.
  • Aufwärtsteilnahme bei Fälligkeit: Wenn die Notes nicht zurückgerufen werden und alle drei Indizes am endgültigen Überprüfungstermin über ihren Anfangswerten schließen, erhalten die Anleger das 1,50-fache der prozentualen Steigerung des am schlechtesten performenden Index (ohne Obergrenze).
  • Barriere-Schutz: 70 % des Anfangswerts für jeden Index. Schließt ein Index am endgültigen Überprüfungstermin unter seiner Barriere, wird das Kapital entsprechend dem Rückgang des schlechtesten Index eins zu eins reduziert, wodurch Anleger einem Verlust von bis zu 100 % ausgesetzt sind.
  • Indikative Wirtschaftlichkeit: Der heutige geschätzte Wert beträgt $945,30 pro $1.000 Note (Minimum ≥ $900,00), was Verkaufskommissionen (≤ $30) sowie Strukturierungs- und Absicherungskosten im Ausgabepreis von $1.000 berücksichtigt.
  • Liquidität & Kredit: Die Notes werden nicht börslich gehandelt; Sekundärpreise hängen vom Gebot von JPMS ab. Zahlungen unterliegen der Bonität sowohl des Emittenten als auch des Garanten.

Investoren verzichten auf periodische Kupons und Dividenden, tragen ein potenzielles vorzeitiges Rückzahlungsrisiko, das die Aufwärtschancen begrenzt, und übernehmen Index-, Marktvolatilitäts-, Kredit- und Liquiditätsrisiken, die in den ausführlichen „Ausgewählten Risikohinweisen“ beschrieben sind.

SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Girin Pascal E R

(Last) (First) (Middle)
C/O CLEARPOINT NEURO, INC.
120 S. SIERRA AVE., SUITE 100

(Street)
SOLANA BEACH CA 92075

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
ClearPoint Neuro, Inc. [ CLPT ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
07/01/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 07/01/2025 A 523 A $11.94(1) 96,634 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Explanation of Responses:
1. These shares were issued pursuant to the issuer's Sixth Amended and Restated 2013 Incentive Compensation Plan, in payment of fees owed to the reporting person under the issuer's Non-Employee Director Compensation Plan, as amended and restated. The shares were issued at the closing price of the issuer's common stock at June 30, 2025.
/s/ Danilo D'Alessandro, by Power of Attorney for Pascal E. R. Girin 07/02/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What is the barrier level for the JPM Auto Callable Accelerated Barrier Notes?

Each index has a 70 % barrier of its Initial Value; falling below it triggers principal loss at maturity.

How soon can the JPM structured notes be automatically called?

The earliest call can occur on the first Review Date, July 31 2026, one year after settlement.

What premiums are paid if the notes are called early?

At least 12.55 % ($125.50) on the first Review Date and 25.10 % ($251.00) on the second, per $1,000 note.

What is the estimated value versus the issue price of the notes?

If priced today, the estimated value is $945.30 per $1,000; final value will not be below $900.00.

Do the notes pay periodic interest or dividends?

No. Investors forgo all coupons and underlying dividends; returns are only via call premiums or maturity payoff.

Are the notes protected by FDIC insurance?

No. They are unsecured, unsubordinated obligations of the issuer and guarantor, not bank deposits.
Clearpoint Neuro Inc

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339.75M
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Medical Devices
Surgical & Medical Instruments & Apparatus
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United States
SOLANA BEACH