By Kiku Steinfeld
Chicago, Aug. 14 – JPMorgan Chase Financial Co. LLC priced $56,000 of autocallable contingent interest notes due Feb. 27, 2026 linked to the common stock of American Airlines Group Inc., according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent monthly interest payment at a yearly rate of 12.5% if the stock closes at or above its interest barrier level, 60% of the initial share price, on the review date for that period.
The notes will be called at par plus the contingent interest payment if the stock closes at or above its initial level on any monthly call date after six months
If the notes are not called, the payout at maturity will be par unless the stock finishes below its 60% trigger level, in which case investors will lose 1% for each 1% decline of the stock from its initial level.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase Financial Co. LLC
|
Guarantor: | JPMorgan Chase & Co.
|
Issue: | Autocallable contingent interest notes
|
Underlying shares: | American Airlines Group Inc.
|
Amount: | $56,000
|
Maturity: | Feb. 27, 2026
|
Coupon: | 12.5% payable monthly if stock closes at or above interest barrier on review date for that period
|
Price: | Par
|
Payout at maturity: | Par unless stock finishes below trigger level, in which case full exposure to stock’s decline
|
Call: | At par if stock closes at or above initial share price on any monthly call date after six months
|
Initial share price: | $15.56
|
Interest barrier/trigger level: | $9.336, 60% of initial share price
|
Pricing date: | Feb. 24, 2023
|
Settlement date: | Feb. 28, 2023
|
Agent: | J.P. Morgan Securities LLC
|
Fees: | 4%
|
Cusip: | 48133UFP2
|
|
|
© 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.