Published on 10/23/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $40,000 9.25% autocallable contingent interest notes on stocks
By Kiku Steinfeld
Chicago, Oct. 23 – JPMorgan Chase Financial Co. LLC priced $40,000 of autocallable contingent interest notes due April 2, 2026 linked to the common stocks of Alphabet Inc., Nvidia Corp. and Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.25%, paid quarterly, if each underlying stock closes at or above its 85% barrier level on the related quarterly observation date.
The securities will be called automatically starting March 28, 2024 at par if the price of each underlying stock is greater than or equal to its initial price on a quarterly review date.
At maturity the payout will be par.
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 contingent interest notes
|
| Underlying stocks: | Alphabet Inc., Nvidia Corp. and Tesla, Inc.
|
| Amount: | $40,000
|
| Maturity: | April 2, 2026
|
| Coupon: | 9.25%, paid quarterly, if each underlying stock closes at or above its 85% barrier on the related quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call: | Automatically starting March 28, 2024 at par if the price of each underlying stock is greater than or equal to its initial price on a quarterly review date
|
| Initial levels: | $101.03 for Alphabet Inc., $264.10 for Nvidia Corp., $189.19 for Tesla, Inc.
|
| Barrier levels: | $85.8755 for Alphabet Inc., $224.485 for Nvidia Corp., $160.8115 for Tesla, Inc.
|
| Pricing date: | March 28, 2023
|
| Settlement date: | March 31, 2023
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.5%
|
| Cusip: | 48133UR46
|
|
|
© 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.
