Published on 6/14/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $61,000 9.75% autocallable contingent interest notes on three stocks
By Kiku Steinfeld
Chicago, June 14 – JPMorgan Chase Financial Co. LLC priced $61,000 of autocallable contingent interest notes due Jan. 29, 2026 linked to the common stocks of Alphabet Inc., NVIDIA Corp. and Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.75%, 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 Jan. 26, 2024 at par if the price of each underlying stock is greater than or equal to its initial price on any quarterly review date.
At maturity the payout will be par unless the worst performing stock closes below its 85% 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
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stocks: | Alphabet Inc., NVIDIA Corp. and Tesla, Inc.
|
| Amount: | $61,000
|
| Maturity: | Jan. 29, 2026
|
| Coupon: | 9.75%, paid quarterly, if each underlying stock closes at or above its 85% coupon barrier on the related quarterly observation date
|
| Price: | Par
|
| 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
|
| Call: | Automatically starting Jan. 26, 2024 at par if the price of each underlying stock is greater than or equal to its initial price on any quarterly review date
|
| Initial levels: | $97.52 for Alphabet, $198.02 for NVIDIA, $160.27 for Tesla
|
| Trigger levels: | $82.892 for Alphabet, $168.317 for NVIDIA, $136.2295 for Tesla, 85% of initial levels
|
| Coupon barriers: | $82.892 for Alphabet, $168.317 for NVIDIA, $136.2295 for Tesla, 85% of initial levels
|
| Pricing date: | Jan. 26, 2023
|
| Settlement date: | Jan. 31, 2023
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.5%
|
| Cusip: | 48133TNC5
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
