Published on 6/28/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $388,000 11.25% autocallable contingent interest notes on stocks
Chicago, June 28 – JPMorgan Chase Financial Co. LLC priced $388,000 of autocallable contingent interest notes due June 4, 2026 linked to the least performing of the common stocks of Amazon.com, Inc., Meta Platforms, Inc. (class A) and Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.25%, 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 May 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.
The payout at maturity will be par plus any coupon payment due.
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: | Amazon.com, Inc., Meta Platforms, Inc. and Tesla, Inc.
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| Amount: | $388,000
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| Maturity: | June 4, 2026
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| Coupon: | 11.25% annual rate, paid quarterly, if each underlying stock closes at or above its 85% coupon barrier on the related quarterly observation date
|
| Price: | Par
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| Payout at maturity: | Par plus any coupon due
|
| Call: | Automatically at par starting May 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
|
| Initial levels: | $120.58 for Amazon, $264.72 for Meta, $203.93 for Tesla
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| Coupon barriers: | $102.493 for Amazon, $225.012 for Meta, $173.3405 for Tesla, 85% of initial levels
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| Pricing date: | May 31
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| Settlement date: | June 5
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.84149%
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| Cusip: | 48133WNL8
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