By Kiku Steinfeld
Chicago, Feb. 6 – JPMorgan Chase Financial Co. LLC priced $500,000 of autocallable contingent interest notes due June 25, 2026 linked to the common stock of Photronics, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 14%, paid quarterly, if the underlying stock closes at or above its 60% coupon barrier on the related quarterly observation date.
The securities will be called automatically starting Dec. 20, 2023 at par if the price of the underlying stock is greater than or equal to its strike price on any quarterly review date.
At maturity the payout will be par unless the stock closes below its 50% trigger level in which case investors will be fully exposed to the decline of the 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 stock: | Photronics, Inc. (Ticker: PLAB)
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| Amount: | $500,000
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| Maturity: | June 25, 2026
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| Coupon: | 14%, paid quarterly, if the underlying stock closes at or above its 60% coupon barrier on the related quarterly observation date
|
| Price: | Par
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| Payout at maturity: | Par unless the stock closes below its trigger level in which case investors will be fully exposed to the decline in the stock
|
| Call: | Automatically starting Dec. 20, 2023 at par if the price of the underlying stock is greater than or equal to its strike price on any quarterly review date
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| Initial level: | $24.05
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| Trigger level: | $12.025, 50% of initial level
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| Coupon barrier: | $14.43, 60% of initial level
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| Pricing date: | June 21, 2023
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| Settlement date: | June 26, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.6%
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| Cusip: | 48133XYC4
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