Published on 2/29/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $75,000 8% autocallable contingent interest notes on stocks
By Kiku Steinfeld
Chicago, Feb. 29 – JPMorgan Chase Financial Co. LLC priced $75,000 of autocallable contingent interest notes due July 2, 2026 linked to the common stocks of Bank of America Corp., Meta Platforms, Inc. and Salesforce, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8%, 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 June 27, 2024 at par if the price of each underlying stock is greater than or equal to its initial price on any quarterly review date.
If the notes are not called, the payout at maturity 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: | Bank of America Corp., Meta Platforms, Inc. and Salesforce, Inc.
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| Amount: | $75,000
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| Maturity: | July 2, 2026
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| Coupon: | 8%, 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 June 27, 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: | $28.24 for Bank of America Corp., $287.05 for Meta Platforms, Inc., $208.82 for Salesforce, Inc.
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| Coupon barrier levels: | $24.004 for Bank of America Corp., $243.9925 for Meta Platforms, Inc., $177.497 for Salesforce, Inc., 85% of initial levels
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| Pricing date: | June 27, 2023
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| Settlement date: | June 30, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 48133XFV3
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