Published on 4/5/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.06 million contingent interest autocalls on four banking stocks
New York, April 5 – JPMorgan Chase Financial Co. LLC priced $1.06 million of autocallable contingent interest notes due March 27, 2025 linked to the common stocks of Bank of America Corp., Citigroup Inc., Goldman Sachs Group, Inc. and Wells Fargo & Co., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 19%, paid quarterly, if each underlying stock closes at or above its 60% coupon barrier on the related quarterly observation date.
The securities will be called automatically at par if each stock closes at or above its initial level on any quarterly review date starting Sept. 25, 2023.
At maturity, the payout will be par unless the worst performing stock finishes below its 50% trigger level, in which case investors will be fully exposed to the decline of the worst 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: | Bank of America Corp., Citigroup Inc., Goldman Sachs Group, Inc. and Wells Fargo & Co.
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| Amount: | $1,055,000
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| Maturity: | March 27, 2025
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| Coupon: | 19%, paid quarterly, if each underlying stock closes at or above its 60% coupon barrier on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing stock finishes below its trigger level, in which case investors will be fully exposed to the decline in the worst performing stock
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| Call: | Automatically at par if each stock closes at or above its initial level on any quarterly review date starting Sept. 25, 2023
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| Initial levels: | $27.14 for Bank of America Corp., $43.11 for Citigroup Inc., $312.57 for Goldman Sachs Group, Inc., $36.23 for Wells Fargo & Co.
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| Trigger levels: | $13.57 for Bank of America Corp., $21.555 for Citigroup Inc., $156.285 for Goldman Sachs Group, Inc., $18.115 for Wells Fargo & Co., 50% of initial level
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| Coupon barriers: | $16.284 for Bank of America Corp., $25.866 for Citigroup Inc., $187.542 for Goldman Sachs Group, Inc., $21.738 for Wells Fargo & Co., 60% of initial levels
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| Strike date: | March 24
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| Pricing date: | March 27
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| Settlement date: | March 30
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.4%
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| Cusip: | 48133VHY9
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