Published on 7/18/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.06 million 9.8% autocallable yield notes on Microsoft, PayPal Holdings, Boeing
New York, July 18 – JPMorgan Chase Financial Co. LLC priced $1.06 million of autocallable yield notes due July 16, 2025 linked to the common stocks of Microsoft Corp., PayPal Holdings, Inc. and Boeing Co., according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting Nov. 13 and on any subsequent monthly review date if each stock closes at or above its call level, which is 95% of its initial level on the first five review dates, 90% on the sixth through 10th review dates and 85% on the 11th through 20th review dates.
Investors will receive a coupon of 9.8%, paid monthly.
If the worst performing stock ends above its 50% downside threshold the payout at maturity will be par plus the coupon. Otherwise investors will lose 1% for every 1% that the worst performing stock declines.
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 yield notes
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| Underlying stocks: | Microsoft Corp., PayPal Holdings, Inc. and Boeing Co.
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| Amount: | $1,055,000
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| Maturity: | July 16, 2025
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| Coupon: | 9.8%, paid monthly
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| Price: | Par
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| Payout at maturity: | If worst performing stock finishes at or above its downside threshold level par; otherwise 1% loss for every 1% that worst performing stock declines
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| Call: | Automatically starting Nov. 13 and on any subsequent monthly review date if each stock closes at or above its call level, 95% of initial level on the first five review dates, 90% on the sixth through 10th review dates and 85% on the 11th through 20th review dates
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| Initial levels: | $332.47 for Microsoft Corp., $70.62 for PayPal Holdings, Inc., $218.76 for Boeing Co.
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| Downside thresholds: | $166.235 for Microsoft Corp., $35.31 for PayPal Holdings, Inc., $109.38 for Boeing Co., 50% of initial level
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| Pricing date: | July 12
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| Settlement date: | July 19
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 48133YGK4
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