By Kiku Steinfeld
Chicago, Oct. 13 – JPMorgan Chase Financial Co. LLC priced $550,000 of autocallable contingent interest notes due Sept. 27, 2024 linked to the common stock of Block, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 20.7%, paid monthly, if the underlying stock closes at or above its 70% coupon barrier on the related monthly observation date.
The securities will be called automatically starting June 26, 2023 at par if the price of the underlying stock is greater than or equal to its initial price on a monthly review date.
At maturity the payout will be par plus the final coupon unless the stock declines by more than its 25% buffer in which case investors will be exposed to the decline of the stock beyond the buffer.
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 stock: | Block, Inc. (Ticker: SQ)
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| Amount: | $550,000
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| Maturity: | Sept. 27, 2024
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| Coupon: | 20.7%, paid monthly, if the underlying stock closes at or above its 70% coupon barrier on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the stock declines by more than its buffer in which case investors will be exposed to the decline in the stock beyond the buffer
|
| Call: | Automatically starting June 26, 2023 at par if the price of the underlying stock is greater than or equal to its initial price on a monthly review date
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| Initial level: | $60.68
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| Buffer: | 25%
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| Pricing date: | March 24, 2023
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| Settlement date: | March 29, 2023
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.225%
|
| Cusip: | 48133VFD7
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