Published on 6/14/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $154,000 12.5% autocallable contingent interest notes on three stocks
By Kiku Steinfeld
Chicago, June 14 – JPMorgan Chase Financial Co. LLC priced $154,000 of autocallable contingent interest notes due Jan. 29, 2026 linked to the common stocks of Capital One Financial Corp., Starbucks Corp. and Walgreens Boots Alliance, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.5%, paid monthly, if each underlying stock closes at or above its 60% trigger level on the related monthly observation date.
The securities will be called automatically starting July 26, 2023 at par if the price of each underlying stock is greater than or equal to its initial price on any quarterly review date.
If the notes are not called, the payout at maturity will be par if any stock closes at or above its initial level or each stock closes at or above its 60% trigger level.
If each stock closes below its initial level and any stock closes below its trigger level, 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: | Capital One Financial Corp., Starbucks Corp. and Walgreens Boots Alliance, Inc.
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| Amount: | $154,000
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| Maturity: | Jan. 29, 2026
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| Coupon: | 12.5%, paid monthly, if each 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 if any stock closes at or above its initial level or each stock closes at or above its trigger level; if each stock closes below its initial level and any stock closes below its trigger level, full exposure to decline of worst performer
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| Call: | Automatically starting July 26, 2023 at par if the price of each underlying stock is greater than or equal to its initial price on any quarterly review date
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| Initial levels: | $116.07 for Capital One, $108.76 for Starbucks, $36.50 for Walgreens
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| Trigger levels: | $69.642 for Capital One, $65.256 for Starbucks, $21.90 for Walgreens, 60% of initial levels
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| Pricing date: | Jan. 26, 2023
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| Settlement date: | Jan. 31, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3%
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| Cusip: | 48133TJH9
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