By Kiku Steinfeld
Chicago, April 2 – JPMorgan Chase Financial Co. LLC priced $260,000 of autocallable contingent interest notes due Jan. 9, 2025 linked to the common stock of Shopify Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 18.25%, paid monthly, if the underlying stock closes at or above its 60% trigger level on the related monthly observation date.
The securities will be called automatically starting Jan. 8, 2024 at par if the price of the 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 stock closes below its 60% trigger level in which case investors will be fully exposed to the decline of the 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 stock: | Shopify Inc.
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Amount: | $260,000
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Maturity: | Jan. 9, 2025
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Coupon: | 18.25%, paid monthly, if the underlying stock closes at or above its 60% trigger level on the related monthly observation date
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Price: | Par
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Payout at maturity: | Par unless the stock closes below its trigger level in which case investors will be fully exposed to the decline in the stock
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Call: | Automatically starting Jan. 8, 2024 at par if the price of the underlying stock is greater than or equal to its initial price and on any subsequent monthly review date
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Initial level: | $61.83
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Trigger level: | $37.098, 60% of initial level
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Pricing date: | July 6, 2023
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Settlement date: | July 11, 2023
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.225%
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Cusip: | 48133XK21
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