Published on 9/13/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $610,000 9.25% autocallable yield notes on four stocks
Chicago, Sept. 13 – JPMorgan Chase Financial Co. LLC priced $610,000 of autocallable yield notes due Aug. 29, 2025 linked to the least performing of the stocks of Amazon.com, Inc., Apple Inc., the Class C capital stock of Alphabet Inc. and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.25%, paid monthly.
The securities will be called automatically starting Feb. 27, 2023 at par if the price of each underlying stock is greater than or equal to its initial price and on any subsequent quarterly review date.
If the worst performing stock ends above its 55% 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: | Amazon.com, Inc., Apple Inc., Alphabet Inc. and Microsoft Corp.
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| Amount: | $610,000
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| Maturity: | Aug. 29, 2025
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| Coupon: | 9.25% annual rate, 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 Feb. 27, 2023 at par if the price of each underlying stock is greater than or equal to its initial price and on any subsequent quarterly review date
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| Initial levels: | $130.75 for Amazon, $163.62 for Apple, $111.30 for Alphabet, $268.09 for Microsoft
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| Downside thresholds: | $71.9125 for Amazon, $89.991 for Apple, $61.215 for Alphabet, $147.4495 for Microsoft, 55% of initial levels
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| Pricing date: | Aug. 26, 2022
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| Settlement date: | Aug. 31, 2022
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3%
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| Cusip: | 48133LF56
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