Published on 3/9/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $250,000 21.35% autocallable contingent interest notes on three stocks
By Kiku Steinfeld
Chicago, March 9 – JPMorgan Chase Financial Co. LLC priced $250,000 of autocallable contingent interest notes due Nov. 26, 2025 linked to the common stocks of Amazon.com, Inc., Shopify Inc. and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 21.35%, paid monthly, if each underlying stock closes at or above its 50% trigger level on the related monthly observation date, plus any previously unpaid coupons.
The securities will be called automatically starting Feb. 21, 2023 at par and on any subsequent quarterly review date if each stock closes at or above its initial level.
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., Shopify Inc. and Microsoft Corp.
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| Amount: | $250,000
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| Maturity: | Nov. 26, 2025
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| Coupon: | 21.35%, paid monthly, if each underlying stock closes at or above its 50% trigger level 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 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. 21, 2023 at par and on any subsequent quarterly review date if each stock closes at or above its initial level
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| Initial levels: | $92.46 for Amazon.com, Inc., $35.21 for Shopify, $242.05 for Microsoft
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| Trigger levels: | $46.23 for Amazon.com, Inc., $17.605 for Shopify, $121.025 for Microsoft, 50% of initial level
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| Pricing date: | Nov. 23, 2022
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| Settlement date: | Nov. 29, 2022
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 48133P4C4
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