Published on 8/28/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $550,000 autocallable contingent interest notes on Apple, Alibaba
Chicago, Aug. 28 – JPMorgan Chase Financial Co. LLC priced $550,000 of autocallable contingent interest notes due Aug. 18, 2023 linked to the lesser performing of the American Depositary Shares of Alibaba Group Holding Ltd. and Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 15.05%, paid quarterly, if each underlying stock closes at or above its 55% trigger level on the related quarterly observation date, plus any previously unpaid coupons.
The securities will be called automatically starting Nov. 15, 2022 at par and on any subsequent quarterly review date if both stocks close above their initial levels.
At maturity the payout will be par unless the worst performing stock closes below its 55% 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
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying stocks: | Alibaba Group Holding Ltd. and Apple Inc.
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| Amount: | $550,000
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| Maturity: | Aug. 18, 2023
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| Coupon: | 15.05% annual rate, paid quarterly, if each underlying stock closes at or above its 55% trigger level on the related quarterly observation date, plus any previously unpaid coupons
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| Price: | Par
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| 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
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| Call: | Automatically starting Nov. 15, 2022 at par and on any subsequent quarterly review date if both stocks close above initial levels
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| Initial levels: | $94.20 for Alibaba, $173.19 for Apple
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| Trigger levels: | $51.81 for Alibaba, $95.2545 for Apple, 55% of initial levels
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| Pricing date: | Aug. 16, 2022
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| Settlement date: | Aug. 19, 2022
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 48133MKT6
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