Published on 11/17/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.68 million autocallable yield notes linked to tech stocks
By Angela McDaniels
Tacoma, Wash., Nov. 17 – JPMorgan Chase Financial Co. LLC priced $2.68 million of 10.85% autocallable yield notes due Oct. 30, 2025 linked to the class A common stock of Alphabet Inc., the class A common stock of Meta Platforms, Inc., the common stock of Apple Inc. and the common stock of Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
Beginning April 26, 2024, the notes will be automatically called at par if each stock closes at or above its initial share price on any monthly review date.
The payout at maturity will be par unless any stock finishes below its trigger level, 50% of its initial share price, in which case investors will lose 1% for every 1% that the worst performing stock declines from its initial share price.
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 yield notes
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| Underlying stocks: | Alphabet Inc., Meta Platforms, Inc., Apple Inc. and Microsoft Corp.
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| Amount: | $2,675,000
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| Maturity: | Oct. 30, 2025
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| Coupon: | 10.85%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below trigger level, in which case 1% loss for every 1% that worst performing stock declines from initial share price
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| Call: | Beginning April 26, 2024, automatically at par if each stock closes at or above initial share price on any monthly review date
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| Initial share price: | $122.28 for Alphabet, $288.35 for Meta, $166.89 for Apple and $327.89 for Microsoft
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| Trigger levels: | $61.14 for Alphabet, $144.175 for Meta, $83.445 for Apple and $163.945, or 50% of initial share prices
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| Pricing date: | Oct. 26
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| Settlement date: | Oct. 31
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.94953%
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| Cusip: | 48134B4V2
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