Published on 8/21/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $250,000 17.1% autocallable contingent interest notes on stocks
Chicago, Aug. 21 – JPMorgan Chase Financial Co. LLC priced $250,000 of autocallable contingent interest notes due May 2, 2024 linked to the least performing of the common stocks of Amazon.com, Inc., Netflix, Inc. and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 17.1%, paid monthly, if each underlying stock closes at or above its 50% trigger level on the related monthly observation date, plus any previously unpaid coupons.
The securities will be called automatically starting Jan. 30, 2023 at par and on any subsequent monthly 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 50% 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., Netflix, Inc. and Microsoft Corp.
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Amount: | $250,000
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Maturity: | May 2, 2024
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Coupon: | 17.1% annual rate, paid monthly, if each underlying stock closes at or above its 50% trigger level on the related monthly observation date, plus any previously unpaid coupons
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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. 30, 2023 at par and on any subsequent monthly review date if all three stocks close above their initial levels
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Initial levels: | $134.95 for Amazon, $224.90 for Netflix, $280.74 for Microsoft
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Trigger levels: | $67.475 for Amazon, $112.45 for Netflix, $140.37 for Microsoft, 50% of initial levels
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Pricing date: | Aug. 3, 2022
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Settlement date: | Aug. 8, 2022
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.65%
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Cusip: | 48133LVD1
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