Published on 4/5/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $375,000 autocallable contingent interest notes on three oil stocks
By Kiku Steinfeld
Chicago, April 5 – JPMorgan Chase Financial Co. LLC priced $375,000 of autocallable contingent interest notes due Dec. 17, 2027 linked to the common stocks of Chevron Corp., ConocoPhillips and Exxon Mobil Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13.5%, paid monthly, if each underlying stock closes at or above its 60% trigger level on the related monthly observation date.
The securities will be called automatically at par if each stock closes at or above its initial level on any quarterly review date starting June 14, 2023.
At maturity, the payout will be par unless the worst performing stock finishes below its 60% 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: | Chevron Corp., ConocoPhillips and Exxon Mobil Corp.
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| Amount: | $375,000
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| Maturity: | Dec. 17, 2027
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| Coupon: | 13.5%, paid monthly, if each underlying stock closes at or above its 60% trigger level on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing stock finishes 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 at par if each stock closes at or above its initial level on any quarterly review date starting June 14, 2023
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| Initial levels: | $172.33 for Chevron, $112.87 for ConocoPhillips, $106.46 for Exxon
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| Trigger levels: | $103.398 for Chevron, $67.722 for ConocoPhillips, $63.876 for Exxon, 60% of initial level
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| Pricing date: | Dec. 14
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| Settlement date: | Dec. 16
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 4.25%
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| Cusip: | 48133PZK2
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