Published on 6/13/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $593,000 10.25% autocallable contingent interest notes on three stocks
By Kiku Steinfeld
Chicago, June 13 – JPMorgan Chase Financial Co. LLC priced $593,000 of autocallable contingent interest notes due Jan. 29, 2026 linked to the common stocks of Amazon.com, Inc., Tesla, Inc. and Meta Platforms, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.25%, paid quarterly, if each underlying stock closes at or above its 85% coupon barrier on the related quarterly observation date.
The securities will be called automatically starting Jan. 26, 2024 at par if the price of each underlying stock is greater than or equal to its initial price on any quarterly review date.
At maturity the payout will be par unless the worst performing stock closes below its 85% 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: | Amazon.com, Inc., Tesla, Inc. and Meta Platforms, Inc.
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Amount: | $593,000
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Maturity: | Jan. 29, 2026
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Coupon: | 10.25%, paid quarterly, if each underlying stock closes at or above its 85% coupon barrier on the related quarterly observation date
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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 Jan. 26, 2024 at par if the price of each underlying stock is greater than or equal to its initial price on any quarterly review date
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Initial levels: | $99.22 for Amazon, $160.27 for Tesla, $147.30 for Meta
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Trigger levels: | $84.337 for Amazon.com, Inc., $136.2295 for Tesla, $125.205 for Meta, 85% of initial levels
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Coupon barriers: | $84.337 for Amazon.com, Inc., $136.2295 for Tesla, $125.205 for Meta, 85% of initial levels
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Pricing date: | Jan. 26, 2023
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Settlement date: | Jan. 31, 2023
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.5%
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Cusip: | 48133TMY8
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