Published on 3/12/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $683,000 10% autocallable yield notes on two stocks
By Kiku Steinfeld
Chicago, March 12 – JPMorgan Chase Financial Co. LLC priced $683,000 of autocallable yield notes due July 3, 2025 linked to the common stocks of PayPal Holdings, Inc. and Charles Schwab Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting Sept. 29, 2023 at par on any monthly review date if each stock closes above 95% of its initial level.
Investors will receive a coupon of 10%, 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: | PayPal Holdings, Inc. and Charles Schwab Corp.
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| Amount: | $683,000
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| Maturity: | July 3, 2025
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| Coupon: | 10%, 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 Sept. 29, 2023 at par on any monthly review date if each stock closes above 95% of its initial level
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| Initial levels: | $65.86 for PayPal Holdings, Inc., $57.14 for Charles Schwab Corp.
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| Downside thresholds: | $32.93 for PayPal Holdings, Inc., $28.57 for Charles Schwab Corp., 50% of initial level
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| Pricing date: | June 29, 2023
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| Settlement date: | July 5, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.65%
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| Cusip: | 48133XZG4
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