Published on 9/28/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $520,000 11.5% autocallable contingent interest notes on Wynn Resorts
By Kiku Steinfeld
Chicago, Sept. 28 – JPMorgan Chase Financial Co. LLC priced $520,000 of autocallable contingent interest notes due March 17, 2028 linked to the common stock of Wynn Resorts, Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.5%, paid quarterly, if the underlying stock closes at or above its 60% trigger level on the related quarterly observation date, plus any previously unpaid coupons.
The securities will be called automatically starting March 14, 2024 at par if the price of the underlying stock is greater than or equal to its initial price on any quarterly review date.
At maturity the payout will be par unless the stock closes below its 60% 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: | Wynn Resorts, Ltd. (Ticker: WYNN)
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Amount: | $520,000
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Maturity: | March 17, 2028
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Coupon: | 11.5%, paid quarterly, if the underlying stock closes at or above its 60% trigger level on the related quarterly observation date, plus any previously unpaid coupons
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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
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Call: | Automatically starting March 14, 2024 at par if the price of the underlying stock is greater than or equal to its initial price on any quarterly review date
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Initial level: | $108.33
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Trigger level: | $64.998, 60% of initial level
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Strike date: | March 14, 2023
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Pricing date: | March 15, 2023
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Settlement date: | March 20, 2023
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Agent: | J.P. Morgan Securities LLC
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Fees: | 3.35%
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Cusip: | 48133VCE8
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