Published on 1/10/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $112,000 8% autocallable contingent interest notes on tech stocks
By Kiku Steinfeld
Chicago, Jan. 10 – JPMorgan Chase Financial Co. LLC priced $112,000 of autocallable contingent interest notes due April 30, 2026 linked to the common stocks of Apple Inc., Meta Platforms, Inc. and Nvidia Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8%, paid quarterly, if each underlying stock closes at or above its 85% barrier level on the related quarterly observation date.
The securities will be called automatically after one year 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 if the notes are not called, the payout will be par.
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: | Apple Inc., Meta Platforms, Inc. and Nvidia Corp.
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Amount: | $112,000
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Maturity: | April 30, 2026
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Coupon: | 8%, paid quarterly, if each underlying stock closes at or above its 85% coupon barrier on the related quarterly observation date
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Price: | Par
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Payout at maturity: | Par if the notes are not called
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Call: | Automatically after one year at par if the price of each underlying stock is greater than or equal to its initial price on a quarterly review date
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Initial levels: | $163.77 for Apple Inc., $207.55 for Meta Platforms, Inc., $262.41 for Nvidia Corp.
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Barrier levels: | $139.2045 for Apple Inc., $176.4175 for Meta Platforms, Inc., $223.0485 for Nvidia Corp.; 85% of initial levels
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Pricing date: | April 25, 2023
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Settlement date: | April 28, 2023
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.52232%
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Cusip: | 48133VPM6
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