Published on 9/10/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $228,000 11% autocallable contingent interest notes on three stocks
By Kiku Steinfeld
Chicago, Sept. 11 – JPMorgan Chase Financial Co. LLC priced $228,000 of autocallable contingent interest notes due March 5, 2026 linked to the common stocks of Amazon.com, Inc., Tesla, Inc. and Meta Platforms, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11%, 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 Feb. 28, 2024 at par if the price of each underlying stock is greater than or equal to its initial price on a quartlery review date.
At maturity the payout will be par unless any stock closes below its 85% trigger level, in which case investors will be exposed to the decline of the lesser 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: | Amazon.com, Inc., Tesla, Inc. and Meta Platforms, Inc.
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| Amount: | $228,000
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| Maturity: | March 5, 2026
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| Coupon: | 11%, 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 any stock closes below its trigger level, in which case investors will be exposed to the decline of the lesser performing stock
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| Call: | Automatically starting Feb. 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
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| Initial levels: | $94.23 for Amazon, $205.71 for Tesla, $174.94 for Meta
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| Coupon barriers/triggers: | $80.0955 for Amazon, $174.8535 for Tesla, $148.699 for Meta, 85% of initial levels
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| Pricing date: | Feb. 28, 2023
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| Settlement date: | March 3, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.63158%
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| Cusip: | 48133T6Z3
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