Published on 11/29/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $325,000 10.8% autocallable contingent interest notes on two stocks
By Kiku Steinfeld
Chicago, Nov. 29 – JPMorgan Chase Financial Co. LLC priced $325,000 of autocallable contingent interest notes due May 17, 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 10.8%, 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 July 14, 2023 at par if the price of each underlying stock is greater than or equal to its initial price on any monthly review date.
At maturity the payout will be par unless any stock closes below its 65% trigger level, in which case investors will be exposed to the decline of the lesser performer.
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: | $325,000
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| Maturity: | May 17, 2024
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| Coupon: | 10.8%, 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 any stock closes below its 65% trigger level, in which case investors will be exposed to the decline of the lesser performer
|
| Call: | Automatically starting July 14, 2023 at par if the price of each underlying stock is greater than or equal to its initial price on any monthly review date
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| Initial levels: | $29.52 for BofA, $319.74 for Berkshire
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| Coupon barrier levels: | $20.664 for BofA, $223.818 for Berkshire, 70% of initial levels
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| Trigger levels: | $19.188 for BofA, $207.831 for Berkshire, 65% of initial levels
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| Pricing date: | April 14, 2023
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| Settlement date: | April 19, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 48133V2V1
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