Published on 9/10/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $600,000 14.25% autocallable contingent interest notes on three stocks
By Kiku Steinfeld
Chicago, Sept. 11 – JPMorgan Chase Financial Co. LLC priced $600,000 of autocallable contingent interest notes due Sept. 3, 2024 linked to the common stocks of Amazon.com, Inc., Apple Inc. and Alphabet Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 14.25%, paid monthly, if each underlying stock closes at or above its 60% coupon barrier on the related monthly observation date.
The securities will be called automatically starting May 30, 2023 at par if the price of each underlying stock is greater than or equal to its initial price on a quarterly review date.
At maturity the payout will be par unless any stock closes below its 50% trigger level, in which case investors will be fully exposed to the decline of the least performing stock.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase Financial Co. LLC
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Autocallable contingent interest notes
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Underlying stocks: | Amazon.com, Inc., Apple Inc. and Alphabet Inc.
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Amount: | $600,000
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Maturity: | Sept. 3, 2024
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Coupon: | 14.25%, paid monthly, if each underlying stock closes at or above its 60% coupon barrier on the related monthly observation date
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Price: | Par
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Payout at maturity: | Par unless any stock closes below its 50% trigger level, in which case investors will be fully exposed to the decline of the least performing stock
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Call: | Automatically starting May 30 at par if the price of each underlying stock is greater than or equal to its initial price and on any subsequent quarterly review date
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Initial levels: | $94.23 for Amazon, $147.41 for Apple, $90.06 for Alphabet
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Coupon barrier levels: | $56.538 for Amazon, $88.446 for Apple, $54.036 for Alphabet; 60% of initial levels
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Trigger levels: | $47.115 for Amazon $73.705 for Apple, $45.03 for Alphabet; 50% of initial levels
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Pricing date: | Feb. 28, 2023
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Settlement date: | March 3, 2023
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.95%
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Cusip: | 48133UNX6
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