Published on 4/19/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $815,000 24.15% autocallable contingent interest notes on three stocks
By Kiku Steinfeld
Chicago, April 19 – JPMorgan Chase Financial Co. LLC priced $815,000 of autocallable contingent interest notes due June 25, 2024 linked to the common stocks of Amazon.com, Inc., Bank of America Corp. and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 24.15%, paid monthly, if each underlying stock closes at or above its 60% coupon barrier on the related monthly observation date.
The securities will be called automatically starting March 20, 2023 at par if the price of each underlying stock is greater than or equal to its initial price and on any subsequent monthly review date.
At maturity the payout will be par unless the worst performing stock closes below its 80% 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., Bank of America Corp. and Microsoft Corp.
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| Amount: | $815,000
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| Maturity: | June 25, 2024
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| Coupon: | 24.15%, paid monthly, if each underlying stock closes at or above its 60% coupon barrier 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 March 20, 2023 at par if the price of each underlying stock is greater than or equal to its initial price and on any subsequent monthly review date
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| Initial levels: | $85.19 for Amazon, $32.19 for BofA., $241.80 for Microsoft
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| Trigger levels: | $68.152 for Amazon, $25.752 for BofA, $193.44 for Microsoft, 80% of initial level
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| Coupon barriers: | $51.114 for Amazon, $19.314 for BofA, $145.08 for Microsoft, 60% of initial levels
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| Pricing date: | Dec. 20
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| Settlement date: | Dec. 23
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.7%
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| Cusip: | 48133TAP0
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