Published on 7/20/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $719,000 19.1% autocallable contingent interest notes on three stocks
By Kiku Steinfeld
Chicago, July 20 – JPMorgan Chase Financial Co. LLC priced $719,000 of autocallable contingent interest notes due Feb. 21, 2025 linked to the common stocks of Amazon.com, Inc., Apple Inc. and Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 19.1%, paid monthly, if each underlying stock closes at or above its 50% trigger level on the related monthly observation date.
The securities will be called automatically starting Feb. 16, 2024 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 worst performing stock closes below its 50% 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., Apple Inc. and Tesla, Inc.
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| Amount: | $719,000
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| Maturity: | Feb. 21, 2025
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| Coupon: | 19.1%, paid monthly, if each underlying stock closes at or above its 50% 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 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 Feb. 16, 2024 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: | $98.15 for Amazon.com, $153.71 for Apple, $202.04 for Tesla
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| Trigger levels: | $49.075 for Amazon.com, $76.855 for Apple, $101.02 for Tesla, 50% of initial level
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| Pricing date: | Feb. 16, 2023
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| Settlement date: | Feb. 22, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.6%
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| Cusip: | 48133UFM9
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