Published on 8/2/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $400,000 autocallable contingent interest notes on three stocks
Chicago, Aug. 2 – JPMorgan Chase Financial Co. LLC priced $400,000 of autocallable contingent interest notes due July 30, 2026 linked to the common stocks of Advanced Micro Devices, Inc., ConocoPhillips and Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 20%, paid monthly, if each underlying stock closes at or above its 60% trigger level on the related monthly observation date.
The securities will be called automatically starting after six months at par if the price of each underlying stock is greater than or equal to its initial price on a monthly review date.
At maturity the payout will be par unless the worst performing stock closes below its 60% 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: | Advanced Micro Devices, Inc., ConocoPhillips and Tesla, Inc.
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| Amount: | $400,000
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| Maturity: | July 30, 2026
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| Coupon: | 20% annual rate, paid monthly, if each underlying stock closes at or above its 60% 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 starting after six months at par if the price of each underlying stock is greater than or equal to its initial price on a monthly review date
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| Initial levels: | $113.00 for AMD, $116.18 for Conoco, $265.28 for Tesla
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| Trigger levels: | $67.80 for AMD, $69.708 Conoco, $159.168 for Tesla, 60% of initial levels
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| Pricing date: | July 25
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| Settlement date: | July 28
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.25%
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| Cusip: | 48133YMF8
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