Published on 8/17/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $500,000 25.75% autocallable contingent interest notes on stocks
Chicago, Aug. 17 – JPMorgan Chase Financial Co. LLC priced $500,000 of autocallable contingent interest notes due July 25, 2025 linked to the least performing of the stocks of Amazon.com, Inc., Alphabet Inc. and Meta Platforms, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 25.75%, paid quarterly, if each underlying stock closes at or above its 70% coupon barrier on the related quarterly observation date.
The securities will be called automatically starting Jan. 23, 2023 at par and on any subsequent quarterly review date if all three stocks close above their initial levels.
At maturity the payout will be par unless the worst performing stock closes below its 60% trigger level in which case investors will be fully exposed to the decline of the worst 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., Alphabet Inc. and Meta Platforms, Inc.
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| Amount: | $500,000
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| Maturity: | July 25, 2025
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| Coupon: | 25.75% annual rate, paid quarterly, if each underlying stock closes at or above its 70% coupon barrier on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing stock closes below its trigger level in which case investors will be fully exposed to the decline in the worst performing stock
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| Call: | Automatically starting Jan. 23, 2023 at par and on any subsequent quarterly review date if all three stocks close above initial levels
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| Initial levels: | $122.42 for Amazon, $107.90 for Alphabet, $169.27 for Meta
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| Coupon barriers: | $85.694 for Amazon, $75.53 for Alphabet, $118.489 for Meta, 70% of initial levels
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| Trigger levels: | $73.452 for Amazon, $64.74 for Alphabet, $101.562 for Meta, 60% of initial levels
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| Pricing date: | July 25, 2022
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| Settlement date: | July 28, 2022
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.6%
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| Cusip: | 48133L4S8
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