Published on 4/14/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1 million autocallable contingent interest notes on three stocks
New York, April 14 – JPMorgan Chase Financial Co. LLC priced $1 million of autocallable contingent interest notes due April 15, 2024 linked to the stock performance of Amazon.com, Inc., Apple Inc. and Berkshire Hathaway Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 21.8%, paid monthly, if each underlying stock closes at or above its 80% coupon barrier on the related monthly observation date.
The securities will be called automatically at par if the closing price of each underlying stock is greater than or equal to its initial price on any monthly review date starting Oct. 10, 2023.
At maturity, the payout will be par unless the worst performing stock finishes below its 70% 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: | Amazon.com, Inc., Apple Inc. and Berkshire Hathaway Inc.
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| Amount: | $1 million
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| Maturity: | April 15, 2024
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| Coupon: | 21.8%, paid monthly, if each underlying stock closes at or above its 80% coupon barrier 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 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 the closing price of each underlying stock is greater than or equal to its initial price on any monthly review date starting Oct. 10, 2023
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| Initial levels: | $102.17 for Amazon.com, Inc., $162.03 for Apple Inc., $312.62 for Berkshire Hathaway Inc.
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| Trigger levels: | $71.519 for Amazon.com, Inc., $113.421 for Apple Inc., $218.834 for Berkshire Hathaway Inc., 70% of initial level
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| Coupon barriers: | $81.736 for Amazon.com, Inc., $129.624 for Apple Inc., $250.096 for Berkshire Hathaway Inc., 80% of initial levels
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| Pricing date: | April 10
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| Settlement date: | April 13
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.725%
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| Cusip: | 48133VC32
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