Published on 10/19/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.58 million contingent income autocalls on Adobe, Microsoft, Salesforce
New York, Oct. 19 – JPMorgan Chase Financial Co. LLC priced $2.58 million of contingent income autocallable securities due Oct. 2, 2026 linked to the common stocks of Adobe, Inc., Microsoft Corp. and Salesforce, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 14.25%, paid quarterly, if each underlying stock closes at or above its 65% downside threshold on related observation date, plus any previously unpaid coupons.
The securities will be called automatically at par if the closing level of each stock is greater than or equal to its initial level on any quarterly review date.
At maturity, the payout will be par unless the worst performing stock finishes below its 65% downside threshold 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. Morgan Stanley will act as distributor.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Contingent income autocallable securities
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| Underlying stocks: | Adobe, Inc., Microsoft Corp. and Salesforce, Inc.
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| Amount: | $2,583,000
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| Maturity: | Oct. 2, 2026
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| Coupon: | 14.25%, paid quarterly, if each underlying stock closes at or above its 65% downside threshold on related 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 finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the worst performing stock
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| Call: | Automatically at par if the closing level of each stock is greater than or equal to its initial level on any quarterly review date
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| Initial levels: | $509.90 for Adobe, Inc., $202.78 for Salesforce, Inc., $315.75 for Microsoft Corp.
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| Downside thresholds: | $331.435 for Adobe, Inc., $131.807 for Salesforce, Inc., $205.2375 for Microsoft Corp., 65% of initial levels
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| Pricing date: | Sept. 29
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| Settlement date: | Oct. 4
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| Agent: | J.P. Morgan Securities LLC
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| Distributor: | Morgan Stanley
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| Fees: | 2.25% including a structuring fee of 0.5%
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| Cusip: | 48134A6Y6
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