Published on 8/30/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $600,000 22.5% callable contingent interest notes on stocks
Chicago, Aug. 30 – JPMorgan Chase Financial Co. LLC priced $600,000 of callable contingent interest notes due Aug. 28, 2025 linked to the least performing of the common stocks of ConocoPhillips, Exxon Mobil Corp. and Marathon Petroleum Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 22.5%, paid monthly, if each underlying stock closes at or above its 70% coupon barrier on the related monthly observation date, plus any previously unpaid coupons.
The securities may be called starting Nov. 29, 2022 at par and on any subsequent quarterly review date.
If the worst performing stock gains or ends above its 60% downside threshold the payout at maturity will be par plus the coupon. Investors will lose 1% for every 1% that the worst performing stock declines if it finishes below its downside threshold level.
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: | Callable contingent interest notes
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| Underlying stocks: | ConocoPhillips, Exxon Mobil Corp. and Marathon Petroleum Corp.
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| Amount: | $600,000
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| Maturity: | Aug. 28, 2025
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| Coupon: | 22.5% annual rate, paid monthly, if each underlying stock closes at or above its 70% coupon barrier on the related monthly observation date, plus any previously unpaid coupons
|
| Price: | 99.9
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| Payout at maturity: | If worst performing stock finishes at or above its downside threshold level, par; 1% loss for every 1% that worst performing stock declines if it finishes below its downside threshold level
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| Call: | Starting Nov. 29, 2022 at par and on any subsequent quarterly review date
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| Initial levels: | $108.45 for ConocoPhillips, $98.00 for Exxon, $103.49 for Marathon
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| Coupon barriers: | $75.915 for ConocoPhillips, $68.60 for Exxon, $72.443 for Marathon, 70% of initial levels
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| Downside thresholds: | $65.07 for ConocoPhillips, $58.80 for Exxon, $62.094 for Marathon, 60% of initial levels
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| Pricing date: | Aug. 24, 2022
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| Settlement date: | Aug. 29, 2022
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0%
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| Cusip: | 48133MSJ0
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