Description. Shell of average size for genus, fusiform, with slightly rounded sides; shoulder sharply-angled, edged with large, thin, prominent carina; spire elevated, subpyramidal, distinctly stepped and scalariform; spire whorls slightly concave and obsoletely canaliculate; body whorl shiny, completely ornamented with 16-18 deeply-incised spiral sulci, with sulci becoming more deeply-impressed toward anterior end; body whorl pale pinkish-white, overlaid with wide bands and large amorphous patches of darker pink or pinkish-tan; white band generally present around mid-body, separating wide color bands and flammules; spire whorls white, marked with proportionally-large, widely-scattered dark pinkish-tan oval flammules; some flammules extend over shoulder carina and connect with large patches and bands on body whorl; aperture proportionally wide, widening slightly toward anterior end; interior of aperture pale pink; protoconch pale pink in color, proportionally large, bulbous, domelike, composed of 2 whorls; periostracum thin, smooth, transparent yellow.
Type Material. HOLOTYPE Length 17.7 mm, width 8.9 mm, LACM 3489; from 12 m depth between Maras Cay and Cayo Mayor, Miskito Cays, Nicaragua. Other Material Examined: length 19.0 mm, width 10.0 mm, from the same locality and depth as the holotype, in the research collection of the senior author; length 18.4 mm, width 9.1 mm, from the same locality and depth as the holotype, in the research collection of the junior author.

Of the known Jaspidiconus species of the southern Caribbean Sea (Honduras, Nicaragua, Costa Rica, and Panama; the Nicaraguan Subprovince of the Caribbean Province), J. carvalhoi is similar only to J. kellyae Petuch, Berschauer, and Poremski, 2017 from the San Bias Islands of Panama (see Petuch, Berschauer, and Poremski, 2017). Both species have a pink or salmon-pink base color and also share a similar color pattern of two broad bands of a darker orange-tan color separated by a pink or white band around the mid-body. The new species differs from its Panamanian congener, however, in being a much stockier, more compact, and less elongated shell with a much lower, far less protracted spire. Jaspidiconus carvalhoi is also a much more heavily-sculptured shell, with pronounced spiral sulci covering the entire body whorl. Jaspidiconus kellyae, on the other hand, is a far less sculptured shell, having incised spiral sulci only around the anterior two-thirds of the body whorl.

Type Locality. Collected at night by diving, on sand and coral rubble sea floor, in 12 m depth, between Maras Cay and Cayo Mayor, Miskito Cays, Nicaragua.
Distribution. Known only from the Miskito Cays, Nicaragua, to which the new species is apparently endemic.
Ecology. Jaspidiconus carvalhoi prefers clean carbonate sand in shallow water, averaging 10-12 m depth. Here it occurs on open sand sea floors with coral rubble and small patch reefs of living coral.