Published on 5/23/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.32 million contingent interest autocalls on Intel, Charles Schwab
New York, May 23 – JPMorgan Chase Financial Co. LLC priced $1.32 million of autocallable contingent interest notes due May 20, 2027 linked to the common stocks of Intel Corp. and Charles Schwab Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 14.5%, paid quarterly, if each underlying stock closes at or above its 50% trigger level on the related quarterly observation date.
The securities will be called automatically at par if each stock closes at or above its initial level on any quarterly review date starting Nov. 16, 2023.
At maturity, the payout will be par unless the worst performing stock finishes 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
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying stocks: | Intel Corp. and Charles Schwab Corp.
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| Amount: | $1,324,000
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| Proceeds: | $1,320,690
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| Maturity: | May 20, 2027
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| Coupon: | 14.5%, paid quarterly, if each underlying stock closes at or above its 50% trigger level on the related quarterly observation date
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| Price: | $997.50 (par value of $1,000)
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| Payout at maturity: | Par unless the worst performing stock finishes below its trigger 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 each stock closes at or above its initial level on any quarterly review date starting Nov. 16, 2023
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| Initial levels: | $29.22 for Intel Corp., $50.09 for Charles Schwab Corp.
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| Trigger levels: | $14.61 for Intel Corp., $25.045 for Charles Schwab Corp., 50% of initial level
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| Strike date: | May 16
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| Pricing date: | May 17
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| Settlement date: | May 22
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.75689223057644%
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| Cusip: | 48133WTA6
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