Published on 10/12/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $365,000 23.3% autocallable contingent interest notes on stocks
Chicago, Oct. 12 – JPMorgan Chase Financial Co. LLC priced $365,000 of autocallable contingent interest notes due Oct. 5, 2026 linked to the worst performing of the common stocks of Costco Wholesale Corp., Ford Motor Co. and Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 23.3%, paid monthly, if each underlying stock closes at or above its 70% coupon barrier on the related monthly observation date, plus any previously unpaid coupons.
The securities will be called automatically starting March 30, 2023 at par if the price of each underlying stock is greater than or equal to its initial price and on any subsequent monthly review date.
At maturity the payout will be par if any stock closes above its initial level or all three stocks close above their 50% trigger levels. Otherwise, investors will be fully exposed to the losses of the worst performer.
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: | Costco Wholesale Corp., Ford Motor Co. and Tesla, Inc.
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| Amount: | $365,000
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| Maturity: | Oct. 5, 2026
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| Coupon: | 23.3% annual rate, paid monthly, if each underlying stock closes at or above its 70% coupon barrier on the related monthly observation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | Par if one stock closes above initial level or all three close above trigger levels; otherwise, full exposure to losses of worst performer
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| Call: | Automatically starting March 30, 2023 at par if the price of each underlying stock is greater than or equal to its initial price and on any subsequent monthly review date
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| Initial levels: | $472.27 for Costco, $11.20 for Ford , $265.25 for Tesla
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| Interest barriers: | $330.589 for Costco, $7.84 for Ford , $185.675 for Tesla; 70% of initial levels
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| Trigger levels: | $236.135 for Costco, $5.60 for Ford , $132.625 for Tesla; 50% of initial levels
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| Pricing date: | Sept. 30, 2022
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| Settlement date: | Oct. 5, 2022
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48133NJM1
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