Published on 10/3/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $460,000 autocallable contingent interest notes on three stocks
By Kiku Steinfeld
Chicago, Oct. 3 – JPMorgan Chase Financial Co. LLC priced $460,000 of autocallable contingent interest notes due Dec. 26, 2023 linked to the common stocks of Apple Inc., Chevron Corp. and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 15.3% per year payable monthly if the worst performing stock closes at or above its 70% trigger level on the related valuation date.
The securities will be called automatically starting June 20, 2023 on any monthly review date if each stock closes at or above its initial level.
At maturity the payout will be par unless any stock closes below its 70% trigger, in which case investors will be exposed to the losses 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: | Apple Inc., Chevron Corp. and Microsoft Corp.
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| Amount: | $460,000
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| Maturity: | Dec. 26, 2023
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| Coupon: | 15.3% per year payable monthly if the worst performing stock closes at or above its 70% trigger level on the related valuation date
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| Price: | Par
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| Payout at maturity: | Par unless any stock closes below its 70% trigger, in which case investors will be exposed to the losses of the least performing stock
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| Call: | Automatically starting June 20, 2023 on any monthly review date if each stock closes at or above its initial level
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| Initial levels: | $157.40 for Apple, $154.58 for Chevron, $272.23 for Microsoft
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| Trigger levels: | $110.18 for Apple, $108.206 for Chevron, $190.561 for Microsoft, 70% of initial levels
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| Pricing date: | March 20, 2023
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| Settlement date: | March 23, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.6%
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| Cusip: | 48133VDR8
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