Published on 12/11/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $500,000 9% autocallable yield notes linked to Amazon, Apple, Microsoft
Chicago, Dec. 11 – JPMorgan Chase Financial Co. LLC priced $500,000 of autocallable yield notes due Nov. 7, 2024 linked to the least performing of the common stocks of Amazon.com, Inc., Apple Inc. and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9%, paid quarterly.
The securities will be called automatically starting Aug. 2 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 if the worst performing stock gains or declines by no more than the 30% buffer. Otherwise, investors will receive par less 142.857% of the worst performing stock loss beyond the buffer.
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 yield notes
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| Underlying stocks: | Amazon.com, Inc., Apple Inc. and Microsoft Corp.
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| Amount: | $500,000
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| Maturity: | Nov. 7, 2024
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| Coupon: | 9% annual rate, paid quarterly
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| Price: | Par
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| Payout at maturity: | If worst performing stock gains or declines by no more than the buffer, par; otherwise par less 142.857% times the loss beyond the buffer
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| Call: | Automatically starting Aug. 2 at par and on any subsequent quarterly review date if all three stocks close above initial levels
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| Initial levels: | $103.63 for Amazon, $168.54 for Apple, $305.41 for Microsoft
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| Buffer levels: | 70% of initial levels
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| Buffer: | 30%
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| Downside leverage: | 142.857%
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| Pricing date: | May 3, 2023
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| Settlement date: | May 8, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2%
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| Cusip: | 48133WGS1
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