Published on 9/27/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $500,000 21.1% autocallable contingent interest notes on stocks
Chicago, Sept. 27 – JPMorgan Chase Financial Co. LLC priced $500,000 of autocallable contingent interest notes due Sept. 26, 2025 linked to the least performing of the common stocks of Snowflake Inc. (class A), Costco Wholesale Corp. and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 21.1%, 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 Sept. 25, 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 all three stocks close above their 50% trigger values. 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: | Snowflake Inc. (Ticker: SNOW), Costco Wholesale Corp. (Ticker: COST) and Microsoft Corp. (Ticker: MSFT)
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| Amount: | $500,000
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| Maturity: | Sept. 26, 2025
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| Coupon: | 21.1% 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 all three stocks close above trigger levels; otherwise, full exposure to losses of worst performer
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| Call: | Automatically starting Sept. 25, 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: | $172.13 for Snowflake, $466.40 for Costco, $237.92 for Microsoft
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| Coupon barrier levels: | $120.491 for Snowflake, $326.48 for Costco, $166.544 for Microsoft; 70% of initial levels
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| Trigger levels: | $86.065 for Snowflake, $233.20 for Costco, $118.96 for Microsoft; 50% of initial levels
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| Pricing date: | Sept. 26, 2022
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| Settlement date: | Sept. 29, 2022
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.5%
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| Cusip: | 48133NLC0
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