Published on 8/7/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $188,000 6.75% autocallable contingent interest notes on tech stocks
By Kiku Steinfeld
Chicago, Aug. 7 – JPMorgan Chase Financial Co. LLC priced $188,000 of autocallable contingent interest notes due Feb. 26, 2026 linked to the common stocks of Apple Inc., Meta Platforms, Inc. and Nvidia Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 6.75%, paid quarterly, if each underlying stock closes at or above its 85% barrier level on the related quarterly observation date.
The securities will be called automatically starting Feb. 23, 2024 at par if the price of each underlying stock is greater than or equal to its initial price on a quarterly review date.
At maturity if the notes are not called, the payout 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: | Apple Inc., Meta Platforms, Inc. and Nvidia Corp.
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| Amount: | $188,000
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| Maturity: | Feb. 26, 2026
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| Coupon: | 6.75%, 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 if the notes are not called
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| Call: | Automatically starting Feb. 23, 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: | $149.40 for Apple Inc., $172.04 for Meta Platforms, Inc., $236.64 for Nvidia Corp.
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| Barrier levels: | $126.99 for Apple Inc., $146.234 for Meta Platforms, Inc., $201.144 for Nvidia Corp.
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| Pricing date: | Feb. 23, 2023
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| Settlement date: | Feb. 28, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 48133T7E9
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