Published on 10/2/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $359,000 13.5% autocallable contingent interest notes on stocks
Chicago, Oct. 2 – JPMorgan Chase Financial Co. LLC priced $359,000 of autocallable contingent interest notes due Oct. 2, 2025 linked to the least performing of the common stocks of J.M. Smucker Co., T. Rowe Price Group, Inc. and Home Depot, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13.5%, paid monthly, if each underlying stock closes at or above its 55% trigger level on the related monthly observation date.
The securities will be called automatically starting March 27, 2023 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 unless the worst performing stock closes below its 55% 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: | J.M. Smucker Co., T. Rowe Price Group, Inc. and Home Depot, Inc.
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| Amount: | $359,000
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| Maturity: | Oct. 2, 2025
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| Coupon: | 13.5% annual rate, paid monthly, if each underlying stock closes at or above its 55% trigger level on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing stock closes 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 starting March 27, 2023 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: | $136.59 for Smucker, $106.76 for T. Rowe Price, $268.69 for Home Depot
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| Trigger levels: | $75.1245 for Smucker, $58.718 for T. Rowe Price, $147.7795 for Home Depot, 55% of initial levels
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| Pricing date: | Sept. 27, 2022
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| Settlement date: | Sept. 30, 2022
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3%
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| Cusip: | 48133MWK2
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