Published on 9/2/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $566,000 18.05% autocallable contingent interest notes on stocks
By Kiku Steinfeld
Chicago, Sept. 5 – JPMorgan Chase Financial Co. LLC priced $566,000 of autocallable contingent interest notes due Feb. 27, 2026 linked to the stocks of Wayfair Inc., Costco Wholesale Corp. and Walmart Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 18.05%, 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 Aug. 24, 2023 at par on a 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
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying stocks: | Wayfair Inc., Costco Wholesale Corp. and Walmart Inc.
|
| Amount: | $566,000
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| Maturity: | Feb. 27, 2026
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| Coupon: | 18.05%, paid monthly, if each underlying stock closes at or above its 50% trigger level on the related monthly observation date
|
| Price: | Par
|
| 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
|
| Call: | Automatically starting Aug. 24, 2023 at par on a quarterly review date if each stock closes at or above its initial level
|
| Initial levels: | $37.43 for Wayfair, $488.61 for Costco, $142.47 for Walmart
|
| Trigger levels: | $18.715 for Wayfair, $244.305 for Costco, $71.235 for Walmart, 50% of initial levels
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| Pricing date: | Feb. 27, 2023
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| Settlement date: | March 1, 2023
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.75%
|
| Cusip: | 48133UM25
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