Published on 9/13/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $539,000 autocallable contingent interest notes on stock basket
Chicago, Sept. 13 – JPMorgan Chase Financial Co. LLC priced $539,000 of autocallable contingent interest notes due March 3, 2025 linked to an equally weighted basket containing the stocks of Amazon.com, Inc., Apple Inc., Microsoft Corp., Nvidia Corp. and Netflix, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent monthly coupon at an annualized rate of 12% if the basket closes at or above its 70% coupon barrier on the related review date.
The notes will be automatically called at par if the basket closes at or above its initial value on any monthly call date starting after six months.
The payout at maturity will be par unless the basket finishes below its 70% barrier level, in which case investors be fully exposed to the basket decline.
J.P. Morgan Securities LLC is the underwriter.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying basket: | Amazon.com, Inc., Apple Inc., Microsoft Corp., Nvidia Corp. and Netflix, Inc.; equal weights
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| Amount: | $539,000
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| Maturity: | March 3, 2025
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| Coupon: | 12% annualized, payable monthly if basket closes at or above coupon barrier on related review date
|
| Price: | Par
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| Payout at maturity: | Par unless basket finishes below final barrier, in which case full exposure to basket decline
|
| Call: | At par if basket closes at or above its initial value on any monthly call date starting after six months
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| Initial values: | $130.75 for Amazon, $163.62 for Apple, $268.09 for Microsoft, $162.60 for Nvidia, $223.28 for Netflix
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| Coupon barrier: | 70% of initial level
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| Final barrier: | 70% of initial level
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| Pricing date: | Aug. 26, 2022
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| Settlement date: | Aug. 31, 2022
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| Underwriter: | J.P. Morgan Securities LLC
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| Fees: | 0%
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| Cusip: | 48133MMA5
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