Published on 6/21/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $145,000 11.5% autocallable contingent interest notes on three stocks
By Kiku Steinfeld
Chicago, June 21 – JPMorgan Chase Financial Co. LLC priced $145,000 of autocallable contingent interest notes due Feb. 5, 2026 linked to the common stocks of Apple Inc., Meta Platforms, Inc. and NVIDIA Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.5%, paid quarterly, if each underlying stock closes at or above its 85% coupon barrier on the related quarterly observation date.
The securities will be called automatically starting Jan. 31, 2024 if the price of each underlying stock is greater than or equal to its initial price and on any subsequent quarterly review date.
At maturity the payout will be par unless the worst performing stock closes below its 85% trigger level in which case 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: | Apple Inc., Meta Platforms, Inc. and NVIDIA Corp.
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Amount: | $145,000
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Maturity: | Feb. 5, 2026
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Coupon: | 11.5%, paid quarterly, if each underlying stock closes at or above its 85% coupon barrier on the related quarterly observation date
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Price: | Par
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Payout at maturity: | Par unless the worst performing stock closes below its trigger level in which case investors will be fully exposed to the decline in the worst performing stock
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Call: | Automatically starting Jan. 31, 2024 if the price of each underlying stock is greater than or equal to its initial price and on any subsequent quarterly review date
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Initial levels: | $144.29 for Apple, $148.97 for Meta, $195.37 for NVIDIA
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Trigger levels: | $122.6465 for Apple, $126.6245 for Meta Platforms, $166.0645 for NVIDIA, 85% of initial levels
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Coupon barriers: | $122.6465 for Apple, $126.6245 for Meta Platforms, $166.0645 for NVIDIA, 85% of initial levels
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Pricing date: | Jan. 31, 2023
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Settlement date: | Feb. 3, 2023
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.5%
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Cusip: | 48133TA47
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