[Form 4] New England Realty Associates Limited Partnership Insider Trading Activity

Q: What is the maximum potential return on JPMorgan's Capped Accelerated Barrier Notes (CUSIP 48136FCJ9)?

The notes cap returns at 88.25% , equal to a maximum payment of $1,882.50 per $1,000 principal.

Q: How much downside protection do the notes provide?

Principal is protected only if each index stays at or above 70% of its initial level on July 1 2030; otherwise losses are 1-for-1 with the worst index.

Q: Which indices determine the payout of these structured notes?

Payments are based on the least-performing of the Dow Jones Industrial Average, Russell 2000 Index and Nasdaq-100 Index.

Q: What fees are embedded in the $1,000 issue price?

Selling commissions are $11.25 (1.125%) per note; the estimated value is $970.40, reflecting structuring and hedging costs.

Q: Are these notes listed on an exchange or tradable daily?

No. The notes are not exchange-listed ; liquidity depends on dealer willingness to bid and may be limited.

Q: When do the notes mature and when is performance measured?

Performance is observed on July 1 2030 ; the notes mature and pay on July 5 2030 , subject to market-disruption adjustments.

Filing Impact

(Low)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

JPMorgan Chase Financial Company LLC is offering $951,000 of Capped Accelerated Barrier Notes maturing on July 5, 2030. The notes are unsecured obligations, fully and unconditionally guaranteed by JPMorgan Chase & Co., and are linked to the least-performing of three major U.S. equity indices: the Dow Jones Industrial Average (INDU), Russell 2000 (RTY) and Nasdaq-100 (NDX).

Key economic terms

Upside participation: 4.0× any positive return of the worst index, capped at 88.25% (max payment = $1,882.50 per $1,000).
Barrier protection: 70% of initial level for each index (30% buffer). If any index closes below its barrier on the July 1, 2030 observation date, principal is reduced 1-for-1 with the worst index.
Pricing date: July 1 2025; settlement: on/about July 7 2025; maturity: July 5 2030.
Issue price: $1,000; selling commission: $11.25 (1.125%); net proceeds: $988.75.
Estimated value: $970.40 (reflects internal funding rate and hedging costs, ~2.96% below issue price).
Minimum denomination: $1,000; CUSIP 48136FCJ9; no exchange listing.

Payoff profile

Upside scenario: If all three indices finish above their initial values, investors receive 4× the least-performing index return, up to 88.25%.
Par scenario: If any index is ≤ initial but all three are ≥ barrier, principal is returned.
Downside scenario: If any index is below its barrier, redemption value = $1,000 + ($1,000 × worst-index return); losses exceed 30% and may reach 100%.

Principal risks include full downside exposure below the 70% barrier, credit risk of both JPMorgan entities, limited upside, lack of secondary-market liquidity, and an issue price above estimated value. The notes pay no coupons and provide no dividend exposure.

JPMorgan Chase Financial Company LLC offre Notes a Barriera Accelerata Limitata per un valore di 951.000$, con scadenza il 5 luglio 2030. Questi titoli sono obbligazioni non garantite, completamente e incondizionatamente garantite da JPMorgan Chase & Co., e sono collegati all'indice peggiore tra tre importanti indici azionari statunitensi: Dow Jones Industrial Average (INDU), Russell 2000 (RTY) e Nasdaq-100 (NDX).

Termini economici chiave

Partecipazione al rialzo: 4,0× qualsiasi rendimento positivo dell'indice peggiore, con un limite massimo dell'88,25% (pagamento massimo = 1.882,50$ per ogni 1.000$ investiti).
Protezione barriera: 70% del livello iniziale per ciascun indice (buffer del 30%). Se un indice chiude al di sotto della barriera nella data di osservazione del 1° luglio 2030, il capitale viene ridotto in modo proporzionale alla performance dell'indice peggiore.
Data di prezzo: 1 luglio 2025; regolamento: circa 7 luglio 2025; scadenza: 5 luglio 2030.
Prezzo di emissione: 1.000$; commissione di vendita: 11,25$ (1,125%); proventi netti: 988,75$.
Valore stimato: 970,40$ (riflette il tasso interno di finanziamento e i costi di copertura, circa il 2,96% sotto il prezzo di emissione).
Taglio minimo: 1.000$; CUSIP 48136FCJ9; nessuna quotazione in borsa.

Profilo di rendimento

Scenario di rialzo: Se tutti e tre gli indici terminano sopra i valori iniziali, gli investitori ricevono 4 volte il rendimento dell'indice peggiore, fino a un massimo dell'88,25%.
Scenario di pareggio: Se un indice è ≤ valore iniziale ma tutti e tre sono ≥ barriera, il capitale viene restituito integralmente.
Scenario di ribasso: Se un indice è sotto la barriera, il valore di rimborso è pari a 1.000$ + (1.000$ × rendimento dell'indice peggiore); le perdite possono superare il 30% e arrivare fino al 100%.

Rischi principali includono l'esposizione totale al ribasso sotto la barriera del 70%, il rischio di credito delle entità JPMorgan coinvolte, la limitata partecipazione al rialzo, la scarsa liquidità sul mercato secondario e un prezzo di emissione superiore al valore stimato. Le note non pagano cedole e non offrono esposizione ai dividendi.

JPMorgan Chase Financial Company LLC ofrece Notas con Barrera Acelerada Limitada por un valor de 951,000$, con vencimiento el 5 de julio de 2030. Estas notas son obligaciones no garantizadas, totalmente y de forma incondicional garantizadas por JPMorgan Chase & Co., y están vinculadas al índice de peor desempeño entre tres importantes índices bursátiles estadounidenses: Dow Jones Industrial Average (INDU), Russell 2000 (RTY) y Nasdaq-100 (NDX).

Términos económicos clave

Participación al alza: 4.0× cualquier rendimiento positivo del peor índice, con un límite máximo del 88.25% (pago máximo = $1,882.50 por cada $1,000 invertidos).
Protección barrera: 70% del nivel inicial para cada índice (buffer del 30%). Si algún índice cierra por debajo de su barrera en la fecha de observación del 1 de julio de 2030, el principal se reduce proporcionalmente al rendimiento del peor índice.
Fecha de fijación de precio: 1 de julio de 2025; liquidación: alrededor del 7 de julio de 2025; vencimiento: 5 de julio de 2030.
Precio de emisión: $1,000; comisión de venta: $11.25 (1.125%); ingresos netos: $988.75.
Valor estimado: $970.40 (refleja la tasa interna de financiamiento y costos de cobertura, aproximadamente 2.96% por debajo del precio de emisión).
Denominación mínima: $1,000; CUSIP 48136FCJ9; sin cotización en bolsa.

Perfil de pago

Escenario alcista: Si los tres índices terminan por encima de sus valores iniciales, los inversores reciben 4 veces el rendimiento del índice de peor desempeño, hasta un máximo del 88.25%.
Escenario par: Si algún índice está ≤ inicial pero los tres están ≥ barrera, se devuelve el principal.
Escenario bajista: Si algún índice está por debajo de su barrera, el valor de redención es $1,000 + ($1,000 × rendimiento del peor índice); las pérdidas pueden superar el 30% y llegar hasta el 100%.

Riesgos principales incluyen la exposición total a la baja bajo la barrera del 70%, riesgo crediticio de ambas entidades JPMorgan, participación limitada al alza, falta de liquidez en el mercado secundario y un precio de emisión superior al valor estimado. Las notas no pagan cupones ni ofrecen exposición a dividendos.

JPMorgan Chase Financial Company LLC는 2030년 7월 5일 만기인 한도 가속 배리어 노트 951,000달러를 제공합니다. 이 노트는 담보 없는 채무이며, JPMorgan Chase & Co.가 완전하고 무조건적으로 보증합니다. 미국의 주요 주가지수 세 개 중 최저 성과 지수인 다우존스 산업평균지수(Dow Jones Industrial Average, INDU), 러셀 2000(Russell 2000, RTY), 나스닥 100(Nasdaq-100, NDX)에 연동됩니다.

주요 경제 조건

상승 참여율: 최저 성과 지수의 긍정적 수익률에 대해 4.0배, 최대 88.25% 한도 (최대 지급액 = $1,000당 $1,882.50).
배리어 보호: 각 지수 초기 수준의 70% (30% 버퍼). 2030년 7월 1일 관측일에 어떤 지수라도 배리어 아래로 마감하면 원금은 최저 성과 지수 수익률에 따라 1:1 비율로 감소합니다.
가격 결정일: 2025년 7월 1일; 결제일: 2025년 7월 7일경; 만기일: 2030년 7월 5일.
발행 가격: $1,000; 판매 수수료: $11.25 (1.125%); 순수익: $988.75.
추정 가치: $970.40 (내부 자금 조달율 및 헤지 비용 반영, 발행 가격 대비 약 2.96% 낮음).
최소 단위: $1,000; CUSIP 48136FCJ9; 거래소 상장 없음.

페이오프 프로필

상승 시나리오: 세 지수가 모두 초기 가치 이상 마감하면 투자자는 최저 성과 지수 수익률의 4배를 받으며, 최대 88.25%까지 지급됩니다.
원금 보존 시나리오: 어떤 지수가 초기 수준 이하이지만 세 지수가 모두 배리어 이상일 경우 원금이 반환됩니다.
하락 시나리오: 어떤 지수가 배리어 아래일 경우 상환 가치는 $1,000 + ($1,000 × 최저 성과 지수 수익률)이며, 손실은 30%를 초과하여 최대 100%까지 발생할 수 있습니다.

주요 위험으로는 70% 배리어 이하 전면 하락 노출, JPMorgan 두 법인의 신용 위험, 제한된 상승 잠재력, 2차 시장 유동성 부족, 발행 가격이 추정 가치보다 높은 점 등이 있습니다. 이 노트는 이자를 지급하지 않으며 배당 노출도 제공하지 않습니다.

JPMorgan Chase Financial Company LLC propose des Notes à Barrière Accélérée Plafonnée d’un montant de 951 000 $ arrivant à échéance le 5 juillet 2030. Ces notes sont des obligations non garanties, entièrement et inconditionnellement garanties par JPMorgan Chase & Co., et sont liées à l'indice le moins performant parmi trois principaux indices boursiers américains : le Dow Jones Industrial Average (INDU), le Russell 2000 (RTY) et le Nasdaq-100 (NDX).

Principaux termes économiques

Participation à la hausse : 4,0× toute performance positive de l’indice le moins performant, plafonnée à 88,25% (paiement maximum = 1 882,50 $ pour 1 000 $ investis).
Protection barrière : 70 % du niveau initial pour chaque indice (marge de 30 %). Si un indice clôture en dessous de sa barrière à la date d’observation du 1er juillet 2030, le capital est réduit au prorata de la performance de l’indice le moins performant.
Date de fixation du prix : 1er juillet 2025 ; règlement : vers le 7 juillet 2025 ; échéance : 5 juillet 2030.
Prix d’émission : 1 000 $ ; commission de vente : 11,25 $ (1,125 %) ; produit net : 988,75 $.
Valeur estimée : 970,40 $ (intègre le taux de financement interne et les coûts de couverture, environ 2,96 % en dessous du prix d’émission).
Montant minimum : 1 000 $ ; CUSIP 48136FCJ9 ; non coté en bourse.

Profil de remboursement

Scénario haussier : Si les trois indices terminent au-dessus de leurs valeurs initiales, les investisseurs reçoivent 4 fois la performance de l’indice le moins performant, jusqu’à un maximum de 88,25 %.
Scénario à l’équilibre : Si un indice est ≤ initial mais que les trois sont ≥ barrière, le capital est remboursé.
Scénario baissier : Si un indice est en dessous de sa barrière, la valeur de remboursement est de 1 000 $ + (1 000 $ × performance de l’indice le moins performant) ; les pertes peuvent dépasser 30 % et atteindre 100 %.

Risques principaux : exposition complète à la baisse sous la barrière de 70 %, risque de crédit des deux entités JPMorgan, potentiel limité à la hausse, manque de liquidité sur le marché secondaire et prix d’émission supérieur à la valeur estimée. Ces notes ne versent pas de coupons et n’offrent pas d’exposition aux dividendes.

JPMorgan Chase Financial Company LLC bietet Capped Accelerated Barrier Notes im Wert von 951.000$ mit Fälligkeit am 5. Juli 2030 an. Die Notes sind unbesicherte Verbindlichkeiten, die vollständig und bedingungslos von JPMorgan Chase & Co. garantiert werden, und sind an den schlechtesten von drei großen US-Aktienindizes gekoppelt: Dow Jones Industrial Average (INDU), Russell 2000 (RTY) und Nasdaq-100 (NDX).

Wichtige wirtschaftliche Bedingungen

Aufwärtsbeteiligung: 4,0× jegliche positive Rendite des schlechtesten Index, gedeckelt bei 88,25% (maximale Auszahlung = 1.882,50$ pro 1.000$).
Barriere-Schutz: 70% des Anfangsniveaus für jeden Index (30% Puffer). Schließt ein Index am Beobachtungstag, dem 1. Juli 2030, unter seiner Barriere, wird das Kapital 1:1 entsprechend der schlechtesten Indexperformance reduziert.
Preisfeststellung: 1. Juli 2025; Abwicklung: ca. 7. Juli 2025; Fälligkeit: 5. Juli 2030.
Ausgabepreis: 1.000$; Verkaufsprovision: 11,25$ (1,125%); Nettoerlös: 988,75$.
Geschätzter Wert: 970,40$ (berücksichtigt internen Finanzierungssatz und Absicherungskosten, ca. 2,96% unter dem Ausgabepreis).
Mindeststückelung: 1.000$; CUSIP 48136FCJ9; keine Börsennotierung.

Auszahlungsprofil

Aufwärtsszenario: Wenn alle drei Indizes über ihren Anfangswerten schließen, erhalten Anleger das Vierfache der Rendite des schlechtesten Index, bis maximal 88,25%.
Par-Szenario: Wenn ein Index ≤ Anfangswert, aber alle drei ≥ Barriere sind, wird das Kapital zurückgezahlt.
Abwärtsszenario: Wenn ein Index unter seiner Barriere liegt, beträgt der Rückzahlungswert 1.000$ + (1.000$ × Rendite des schlechtesten Index); Verluste können 30% übersteigen und bis zu 100% betragen.

Hauptsächliche Risiken umfassen die volle Abwärtsrisiko-Exposition unterhalb der 70%-Barriere, Kreditrisiko beider JPMorgan-Einheiten, begrenzte Aufwärtschancen, mangelnde Liquidität am Sekundärmarkt und einen Ausgabepreis über dem geschätzten Wert. Die Notes zahlen keine Kupons und bieten keine Dividendenbeteiligung.

Insights

TL;DR 5-year notes offer 4× upside to 88.25% with a 30% buffer but expose holders to uncapped downside and JPM credit.

From a product-design standpoint, these notes suit investors willing to trade yield and dividends for leveraged equity participation with partial downside protection. The 4× upside looks attractive, but the 88.25% cap is reached once the worst index gains only 22.06%, truncating returns in strong bull markets. The single-index trigger means correlation offers no cushion—one index breach drives losses. Credit-spread widening in JPM paper or equity volatility can compress secondary prices, and the estimated value (97.0% of face) highlights immediate negative carry. With no listing and a five-year tenor, investors should be prepared to hold to maturity. Overall market impact on JPM is negligible; the key consideration is suitability for retail structured-product investors.

TL;DR Product embeds 30% soft protection; below that point risk profile mirrors direct equity loss with added JPM credit exposure.

Risk is concentrated in three areas: (1) market path dependency—any index breach nullifies the buffer; (2) credit risk—note ranks pari passu with other senior JPM debt; (3) liquidity—no exchange listing and dealer bid likely below theoretical value, especially after the six-month decay of distribution costs. Volatility spikes in small-cap (RTY) and tech (NDX) components raise breach probability versus DJIA. Given the 4× leverage, delta quickly approaches cap, leaving holders exposed chiefly to downside gamma. Tax treatment relies on open-transaction doctrine and may change with future IRS guidance.

Termini economici chiave

Partecipazione al rialzo: 4,0× qualsiasi rendimento positivo dell'indice peggiore, con un limite massimo dell'88,25% (pagamento massimo = 1.882,50$ per ogni 1.000$ investiti).
Protezione barriera: 70% del livello iniziale per ciascun indice (buffer del 30%). Se un indice chiude al di sotto della barriera nella data di osservazione del 1° luglio 2030, il capitale viene ridotto in modo proporzionale alla performance dell'indice peggiore.
Data di prezzo: 1 luglio 2025; regolamento: circa 7 luglio 2025; scadenza: 5 luglio 2030.
Prezzo di emissione: 1.000$; commissione di vendita: 11,25$ (1,125%); proventi netti: 988,75$.
Valore stimato: 970,40$ (riflette il tasso interno di finanziamento e i costi di copertura, circa il 2,96% sotto il prezzo di emissione).
Taglio minimo: 1.000$; CUSIP 48136FCJ9; nessuna quotazione in borsa.

Profilo di rendimento

Scenario di rialzo: Se tutti e tre gli indici terminano sopra i valori iniziali, gli investitori ricevono 4 volte il rendimento dell'indice peggiore, fino a un massimo dell'88,25%.
Scenario di pareggio: Se un indice è ≤ valore iniziale ma tutti e tre sono ≥ barriera, il capitale viene restituito integralmente.
Scenario di ribasso: Se un indice è sotto la barriera, il valore di rimborso è pari a 1.000$ + (1.000$ × rendimento dell'indice peggiore); le perdite possono superare il 30% e arrivare fino al 100%.

Términos económicos clave

Participación al alza: 4.0× cualquier rendimiento positivo del peor índice, con un límite máximo del 88.25% (pago máximo = $1,882.50 por cada $1,000 invertidos).
Protección barrera: 70% del nivel inicial para cada índice (buffer del 30%). Si algún índice cierra por debajo de su barrera en la fecha de observación del 1 de julio de 2030, el principal se reduce proporcionalmente al rendimiento del peor índice.
Fecha de fijación de precio: 1 de julio de 2025; liquidación: alrededor del 7 de julio de 2025; vencimiento: 5 de julio de 2030.
Precio de emisión: $1,000; comisión de venta: $11.25 (1.125%); ingresos netos: $988.75.
Valor estimado: $970.40 (refleja la tasa interna de financiamiento y costos de cobertura, aproximadamente 2.96% por debajo del precio de emisión).
Denominación mínima: $1,000; CUSIP 48136FCJ9; sin cotización en bolsa.

Perfil de pago

Escenario alcista: Si los tres índices terminan por encima de sus valores iniciales, los inversores reciben 4 veces el rendimiento del índice de peor desempeño, hasta un máximo del 88.25%.
Escenario par: Si algún índice está ≤ inicial pero los tres están ≥ barrera, se devuelve el principal.
Escenario bajista: Si algún índice está por debajo de su barrera, el valor de redención es $1,000 + ($1,000 × rendimiento del peor índice); las pérdidas pueden superar el 30% y llegar hasta el 100%.

주요 경제 조건

상승 참여율: 최저 성과 지수의 긍정적 수익률에 대해 4.0배, 최대 88.25% 한도 (최대 지급액 = $1,000당 $1,882.50).
배리어 보호: 각 지수 초기 수준의 70% (30% 버퍼). 2030년 7월 1일 관측일에 어떤 지수라도 배리어 아래로 마감하면 원금은 최저 성과 지수 수익률에 따라 1:1 비율로 감소합니다.
가격 결정일: 2025년 7월 1일; 결제일: 2025년 7월 7일경; 만기일: 2030년 7월 5일.
발행 가격: $1,000; 판매 수수료: $11.25 (1.125%); 순수익: $988.75.
추정 가치: $970.40 (내부 자금 조달율 및 헤지 비용 반영, 발행 가격 대비 약 2.96% 낮음).
최소 단위: $1,000; CUSIP 48136FCJ9; 거래소 상장 없음.

페이오프 프로필

상승 시나리오: 세 지수가 모두 초기 가치 이상 마감하면 투자자는 최저 성과 지수 수익률의 4배를 받으며, 최대 88.25%까지 지급됩니다.
원금 보존 시나리오: 어떤 지수가 초기 수준 이하이지만 세 지수가 모두 배리어 이상일 경우 원금이 반환됩니다.
하락 시나리오: 어떤 지수가 배리어 아래일 경우 상환 가치는 $1,000 + ($1,000 × 최저 성과 지수 수익률)이며, 손실은 30%를 초과하여 최대 100%까지 발생할 수 있습니다.

Principaux termes économiques

Participation à la hausse : 4,0× toute performance positive de l’indice le moins performant, plafonnée à 88,25% (paiement maximum = 1 882,50 $ pour 1 000 $ investis).
Protection barrière : 70 % du niveau initial pour chaque indice (marge de 30 %). Si un indice clôture en dessous de sa barrière à la date d’observation du 1er juillet 2030, le capital est réduit au prorata de la performance de l’indice le moins performant.
Date de fixation du prix : 1er juillet 2025 ; règlement : vers le 7 juillet 2025 ; échéance : 5 juillet 2030.
Prix d’émission : 1 000 $ ; commission de vente : 11,25 $ (1,125 %) ; produit net : 988,75 $.
Valeur estimée : 970,40 $ (intègre le taux de financement interne et les coûts de couverture, environ 2,96 % en dessous du prix d’émission).
Montant minimum : 1 000 $ ; CUSIP 48136FCJ9 ; non coté en bourse.

Profil de remboursement

Scénario haussier : Si les trois indices terminent au-dessus de leurs valeurs initiales, les investisseurs reçoivent 4 fois la performance de l’indice le moins performant, jusqu’à un maximum de 88,25 %.
Scénario à l’équilibre : Si un indice est ≤ initial mais que les trois sont ≥ barrière, le capital est remboursé.
Scénario baissier : Si un indice est en dessous de sa barrière, la valeur de remboursement est de 1 000 $ + (1 000 $ × performance de l’indice le moins performant) ; les pertes peuvent dépasser 30 % et atteindre 100 %.

Wichtige wirtschaftliche Bedingungen

Aufwärtsbeteiligung: 4,0× jegliche positive Rendite des schlechtesten Index, gedeckelt bei 88,25% (maximale Auszahlung = 1.882,50$ pro 1.000$).
Barriere-Schutz: 70% des Anfangsniveaus für jeden Index (30% Puffer). Schließt ein Index am Beobachtungstag, dem 1. Juli 2030, unter seiner Barriere, wird das Kapital 1:1 entsprechend der schlechtesten Indexperformance reduziert.
Preisfeststellung: 1. Juli 2025; Abwicklung: ca. 7. Juli 2025; Fälligkeit: 5. Juli 2030.
Ausgabepreis: 1.000$; Verkaufsprovision: 11,25$ (1,125%); Nettoerlös: 988,75$.
Geschätzter Wert: 970,40$ (berücksichtigt internen Finanzierungssatz und Absicherungskosten, ca. 2,96% unter dem Ausgabepreis).
Mindeststückelung: 1.000$; CUSIP 48136FCJ9; keine Börsennotierung.

Auszahlungsprofil

Aufwärtsszenario: Wenn alle drei Indizes über ihren Anfangswerten schließen, erhalten Anleger das Vierfache der Rendite des schlechtesten Index, bis maximal 88,25%.
Par-Szenario: Wenn ein Index ≤ Anfangswert, aber alle drei ≥ Barriere sind, wird das Kapital zurückgezahlt.
Abwärtsszenario: Wenn ein Index unter seiner Barriere liegt, beträgt der Rückzahlungswert 1.000$ + (1.000$ × Rendite des schlechtesten Index); Verluste können 30% übersteigen und bis zu 100% betragen.

07/03/2025 - 01:54 PM

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

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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^*

BROWN RONALD

(Last)

(First)

(Middle)

NEW ENGLAND REALTY ASSOCIATES LP

39 BRIGHTON AVENUE

(Street)

ALLSTON

02134

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP [ NEN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	PRESIDENT

3. Date of Earliest Transaction (Month/Day/Year)
03/31/2025

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
NEN Units of General Partnership Interest	06/30/2025		J⁽¹⁾		0.3⁽²⁾	D	$2,311.01⁽³⁾	291.4	I	By Close-Held Corporation
NEN Class B Units of Limited Partnership Interest	06/30/2025		J⁽¹⁾		5.8	D	$2,311.01⁽³⁾	5,536.1	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Pursuant to the Partnership's equity repurchase program, as renewed and reauthorized by the Board of Directors of the General Partner on March 9, 2020 and as further described in the Partnership's Report on Form 10-K filed with the Securities and Exchange Commission on March 12, 2020, the Partnership repurchased 1.1 Class B Units of Limited Partnership Interest directly beneficially owned by the reporting person and 0.1 Units of General Partner Interest from the general partner of the Partnership that are indirectly beneficially owned by the reporting person.

2. Amounts reported represent 75% of the securities owned by the close-help corporation (which corporation is the general partner of the Partnership) based upon the reporting person's 75% equity interest in the corporation.

3. The purchase price of the Units of General Partner Interest was equal to the $77.03 purchase price of the Depositary Receipts (each of which represents one-thirtieth of a Class A Unit of the Partnership) contemporaneously repurchased by the Partnership pursuant to its equity repurchase program.

	/s/ Ronald Brown	07/03/2025
	** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What is the maximum potential return on JPMorgan's Capped Accelerated Barrier Notes (CUSIP 48136FCJ9)?

The notes cap returns at 88.25%, equal to a maximum payment of $1,882.50 per $1,000 principal.

How much downside protection do the notes provide?

Principal is protected only if each index stays at or above 70% of its initial level on July 1 2030; otherwise losses are 1-for-1 with the worst index.

Which indices determine the payout of these structured notes?

Payments are based on the least-performing of the Dow Jones Industrial Average, Russell 2000 Index and Nasdaq-100 Index.

What fees are embedded in the $1,000 issue price?

Selling commissions are $11.25 (1.125%) per note; the estimated value is $970.40, reflecting structuring and hedging costs.

Are these notes listed on an exchange or tradable daily?

No. The notes are not exchange-listed; liquidity depends on dealer willingness to bid and may be limited.

When do the notes mature and when is performance measured?

Performance is observed on July 1 2030; the notes mature and pay on July 5 2030, subject to market-disruption adjustments.

[Form 4] New England Realty Associates Limited Partnership Insider Trading Activity

Insights

FAQ

What is the maximum potential return on JPMorgan's Capped Accelerated Barrier Notes (CUSIP 48136FCJ9)?

How much downside protection do the notes provide?

Which indices determine the payout of these structured notes?

What fees are embedded in the $1,000 issue price?

Are these notes listed on an exchange or tradable daily?

When do the notes mature and when is performance measured?

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[Form 4] New England Realty Associates Limited Partnership Insider Trading Activity

Insights

Structured Products Analyst neutral

Risk Analyst neutral

FAQ

What is the maximum potential return on JPMorgan's Capped Accelerated Barrier Notes (CUSIP 48136FCJ9)?

How much downside protection do the notes provide?

Which indices determine the payout of these structured notes?

What fees are embedded in the $1,000 issue price?

Are these notes listed on an exchange or tradable daily?

When do the notes mature and when is performance measured?

NYSE:NEN

NEN Rankings

NEN Latest News

NEN Latest SEC Filings

NEN Stock Data