Published on 10/2/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $757,000 23.6% autocallable contingent interest notes on stocks
Chicago, Oct. 2 – JPMorgan Chase Financial Co. LLC priced $757,000 of autocallable contingent interest notes due Oct. 2, 2023 linked to the least performing of the class C capital stock of Alphabet Inc. and the common stocks of Microsoft Corp. and Goldman Sachs Group, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 23.6%, paid monthly, if each underlying stock closes at or above its 70% trigger level on the related monthly observation date.
The securities will be called automatically starting Dec. 27, 2022 at par if the price of each underlying stock is greater than or equal to its initial price and on any subsequent monthly review date.
At maturity the payout will be par unless the worst performing stock closes below its 70% 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: | Alphabet Inc. (Ticker: GOOG), Microsoft Corp. (Ticker: MSFT) and Goldman Sachs Group, Inc. (Ticker: GS)
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| Amount: | $757,000
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| Maturity: | Oct. 2, 2023
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| Coupon: | 23.6% annual rate, paid monthly, if each underlying stock closes at or above its 70% trigger level on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing stock closes 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 starting Dec. 27, 2022 at par if the price of each underlying stock is greater than or equal to its initial price and on any subsequent monthly review date
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| Initial levels: | $98.09 for Alphabet, $236.41 for Microsoft, $291.38 for Goldman Sachs
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| Trigger levels: | $68.663 for Alphabet, $165.487 for Microsoft, $203.966 for Goldman Sachs, 70% of initial levels
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| Pricing date: | Sept. 27, 2022
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| Settlement date: | Sept. 30, 2022
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.6%
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| Cusip: | 48133NLP1
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