Heidrick & Struggles Intl Inc SEC Filings

JPMorgan Chase Financial Company LLC is marketing a new structured product: Uncapped Digital Barrier Notes due July 2, 2030, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes provide investors with uncapped, un-leveraged exposure to the lesser performing of two equity indices—the Russell 2000 Index (RTY) and the S&P 500 Futures Excess Return Index (SPXFP).

Key economic terms

• Contingent Digital Return: at least 72.60% (final rate set on pricing date).
• Barrier Amount: 70% of each index’s Initial Value (30% downside buffer).
• Pricing Date: on or about June 27, 2025; Settlement: on or about July 2, 2025.
• Maturity / Observation: June 27 and July 2, 2030 (five-year term).
• Denomination: $1,000 minimum, integral multiples thereafter; CUSIP: 48136EY82.
• Issuer estimated value (if priced today): $973.70 per $1,000 note (not less than $940.00 at pricing).

Payout mechanics at maturity

• Upside: If both indices close ≥ their Initial Values, payment equals principal plus the greater of (a) the Contingent Digital Return (≥ 72.60%) or (b) the actual percentage gain of the lesser-performing index.
• Par return: If either index finishes below its Initial Value but both remain ≥ the 70% barrier, only principal is repaid (0% return).
• Downside: If either index breaches its 70% barrier, repayment is reduced dollar-for-dollar with the lesser-performing index’s decline, exposing holders to losses greater than 30% and up to 100% of capital.

Investor considerations

• No interim coupons or interest payments.
• Returns depend solely on the index performance on the single observation date—path-dependency is absent but gap risk at maturity is elevated.
• Notes are unsecured obligations; repayment hinges on the credit quality of JPMorgan Financial and JPMorgan Chase & Co.
• The product is exempt from Commodity Exchange Act regulation; holders do not receive CFTC protections.
• Estimated value embeds fees/hedging costs; secondary market prices will include additional bid–ask spreads and may be materially lower.

Illustrative economics (hypothetical): An investor receives $1,726 per $1,000 note (+72.6%) if the lesser-performing index gains just 1% (≥ digital hurdle). Conversely, a 30.01% decline in the lesser index reduces repayment to $699.90; a 60% fall delivers only $400.

Risk highlights

• Capital at risk: breach of barrier triggers uncapped downside.
• Digital return not guaranteed if either index is below its Initial Value at observation.
• Concentration in small-cap equities (RTY) and equity futures (SPXFP) may increase volatility.
• Long-dated credit exposure (5.0-year) to JPMorgan entities.

Heidrick & Struggles International Inc. (HSII) – Form 4 insider filing

President Thomas J. Murray III reported an automatic share withholding related to restricted stock units (RSUs) that vested on 22 June 2025. To cover associated tax obligations, the issuer retained 2,983 common shares at an indicated price of $43.21 per share. The transaction is coded “F,” confirming it was a tax-withholding event rather than an open-market sale. After the withholding, Murray directly owns 82,036.594 HSII common shares. No derivative securities transactions were reported.

The filing does not indicate any discretionary buying or selling by the executive; it merely reflects administrative settlement of taxes upon vesting of previously granted 2023 RSUs.