By Kiku Steinfeld
Chicago, Sept. 29 – JPMorgan Chase Financial Co. LLC priced $500,000 of autocallable yield notes due March 20, 2025 linked to the common stocks of Bank of America Corp., Citigroup Inc. and Wells Fargo & Co., according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically on any quarterly review date if each stock closes at or above its initial level.
Investors will receive a coupon of 11.5%, paid quarterly.
At maturity the payout will be par if the worst performing stock gains or declines by no more than the 30% buffer. Otherwise investors will receive par less 142.857% of the worst performing stock loss beyond the buffer.
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 yield notes
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| Underlying stocks: | Bank of America Corp., Citigroup Inc. and Wells Fargo & Co.
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| Amount: | $500,000
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| Maturity: | March 20, 2025
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| Coupon: | 11.5%, paid quarterly
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| Price: | Par
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| Payout at maturity: | If worst performing stock gains or declines by no more than the buffer, par; otherwise par less 142.857% times the loss beyond the buffer
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| Call: | Automatically on any quarterly review date if each stock closes at or above its initial level
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| Initial levels: | $28.49 for Bank of America Corp., $44.82 for Citigroup Inc., $38.85 for Wells Fargo & Co.
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| Buffer: | 30%
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| Downside leverage: | 142.857%
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| Pricing date: | March 16, 2023
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| Settlement date: | March 21, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2%
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| Cusip: | 48133VDE7
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