Published on 5/11/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $600,000 23.1% autocallable contingent interest notes on three stocks
By Kiku Steinfeld
Chicago, May 11 – JPMorgan Chase Financial Co. LLC priced $600,000 of autocallable contingent interest notes due Jan. 5, 2026 linked to the common stocks of Amazon.com, Inc., Airbnb, Inc. and Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 23.1%, paid monthly, if each underlying stock closes at or above its 50% trigger level on the related monthly observation date.
The securities will be called automatically at par after three months on any monthly review date if each stock closes at or above its initial level.
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., Airbnb, Inc. and Tesla, Inc.
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| Amount: | $600,000
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| Maturity: | Jan. 5, 2026
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| Coupon: | 23.1%, paid monthly, if each underlying stock closes at or above its 50% trigger level on the related monthly observation date
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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 at par after three months on any monthly review date if each stock closes at or above its initial level
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| Initial levels: | $84.00 for Amazon, $85.50 for Airbnb, $123.18 for Tesla
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| Trigger levels: | $42.00 for Amazon, $42.75 for Airbnb, $61.59 for Tesla, 50% of initial level
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| Pricing date: | Jan. 3, 2023
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| Settlement date: | Jan. 6, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 4%
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| Cusip: | 48133TQF5
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