Published on 2/12/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $324,000 7.5% autocallable contingent interest notes on stocks
Chicago, Feb. 12 – JPMorgan Chase Financial Co. LLC priced $324,000 of autocallable contingent interest notes due May 29, 2026 linked to the least performing of 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 7.5%, 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 May 28, 2024 at par 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.
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. (Ticker: AAPL), Meta Platforms, Inc. (Ticker: META) and Nvidia Corp. (Ticker: NVDA)
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| Amount: | $324,000
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| Maturity: | May 29, 2026
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| Coupon: | 7.5% annual rate, 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
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| Call: | Automatically starting May 28, 2024 at par 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: | $172.99 for Apple, $252.69 for Meta, $379.80 for Nvidia
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| Interest barrier levels: | $147.0415 for Apple, $214.7865 for Meta, $322.83 for Nvidia; 85% of initial levels
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| Pricing date: | May 25, 2023
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| Settlement date: | May 31, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 48133WNK0
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