Published on 8/3/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $628,000 9.5% autocallable contingent interest notes on stocks
Chicago, Aug. 3 – JPMorgan Chase Financial Co. LLC priced $628,000 of autocallable contingent interest notes due July 30, 2026 linked to the least performing of the stocks of Alphabet Inc., Nvidia Corp. and Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.5%, 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 July 26, 2024 at par if the price of each underlying stock is greater than or equal to its initial price and on any subsequent quarterly review date.
At maturity the payout will be par.
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: | Alphabet Inc., Nvidia Corp. and Tesla, Inc.
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| Amount: | $628,000
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| Maturity: | July 30, 2026
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| Coupon: | 9.5% annual rate, paid quarterly, if each underlying stock closes at or above its 85% coupon barrier on the related quarterly observation date
|
| Price: | Par
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| Payout at maturity: | Par
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| Call: | Automatically starting July 26, 2024 at par if the price of each underlying stock is greater than or equal to its initial price and on any subsequent quarterly review date
|
| Initial levels: | $129.27 for Alphabet, $454.52 for Nvidia, $264.35 for Tesla
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| Interest barrier levels: | $109.8795 for Alphabet, $386.342 for Nvidia, $224.6975 for Tesla; 85% of initial levels
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| Pricing date: | July 26
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| Settlement date: | July 31
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 48133XV52
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