Published on 10/13/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $415,000 12.6% autocallable contingent interest notes on stocks
By Kiku Steinfeld
Chicago, Oct. 13 – JPMorgan Chase Financial Co. LLC priced $415,000 of autocallable contingent interest notes due June 27, 2024 linked to the common stocks of Bank of America Corp. and Berkshire Hathaway Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.6%, paid monthly, if each underlying stock closes at or above its 70% coupon barrier on the related monthly observation date.
The securities will be called automatically starting June 26, 2023 at par if the price of each underlying stock is greater than or equal to its initial price on a monthly review date.
At maturity the payout will be par unless the least performing stock closes below its 60% trigger level in which case investors will be fully exposed to the decline of that 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: | Bank of America Corp. and Berkshire Hathaway Inc.
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| Amount: | $415,000
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| Maturity: | June 27, 2024
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| Coupon: | 12.6%, paid monthly, if each underlying stock closes at or above its 70% coupon barrier on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the least performing stock closes below its trigger level in which case investors will be fully exposed to the decline of that stock
|
| Call: | Automatically beginning June 26, 2023 at par if the price of each underlying stock is greater than or equal to its initial price on a monthly review date
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| Initial levels: | $27.14 for BofA, $298.92 for Berkshire
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| Coupon barrier levels: | $18.998 for BofA, $209.244 for Berkshire, 70% of initial levels
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| Trigger levels: | $16.284 for BofA, $179.352 for Berkshire, 60% of initial levels
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| Pricing date: | March 24, 2023
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| Settlement date: | March 29, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.35%
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| Cusip: | 48133VDF4
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