New York, Oct. 26 – JPMorgan Chase Financial Co. LLC priced $1.22 million of autocallable yield notes due April 25, 2023 linked to the stocks of Apple Inc., Bank of America Corp. and Berkshire Hathaway Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a monthly coupon of 12.39996% per year, or 6.2% for the term.
The securities will be called automatically at par if each stock closes at or above its initial level on any monthly determination date starting Jan. 20, 2023.
If the worst performing stock finishes at or above its 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
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable yield notes
|
| Underlying stocks: | Apple Inc., Bank of America Corp. and Berkshire Hathaway Inc.
|
| Amount: | $1,223,000
|
| Maturity: | April 25, 2023
|
| Coupon: | 12.39996% per year, or 6.2% for the term; paid monthly
|
| Price: | Par
|
| Payout at maturity: | If worst performing stock finishes at or above its downside threshold level, par; otherwise, 1% loss for every 1% that worst performing stock declines from initial level
|
| Call: | Automatically at par if each stock closes at or above its initial level on any monthly determination date starting Jan. 20, 2023
|
| Initial levels: | $143.39 for Apple Inc., $33.70 for Bank of America Corp., $273.53 for Berkshire Hathaway Inc.
|
| Downside thresholds: | $86.034 for Apple Inc., $20.22 for Bank of America Corp., $164.118 for Berkshire Hathaway Inc., 60% of initial levels
|
| Pricing date: | Oct. 20
|
| Settlement date: | Oct. 25
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48133NJ41
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
