Published on 9/27/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $200,000 15.8% autocallable yield notes on stocks
By Kiku Steinfeld
Chicago, Sept. 27 – JPMorgan Chase Financial Co. LLC priced $200,000 of autocallable yield notes due March 19, 2024 linked to the common stocks of Advanced Micro Devices, Inc., Alphabet Inc. and Walt Disney Co., according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting Sept. 14, 2023 at par on a quarterly review date if each stock closes at or above its initial level.
Investors will receive a coupon of 15.8%, paid quarterly.
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: | Advanced Micro Devices, Inc., Alphabet Inc. and Walt Disney Co.
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Amount: | $200,000
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Maturity: | March 19, 2024
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Coupon: | 15.8%, paid quarterly
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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. 14, 2023 at par on a quarterly review date if each stock closes at or above its initial level
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Initial levels: | $87.45 for Advanced Micro Devices, Inc., $93.97 for Alphabet Inc., $93.36 for Walt Disney Co.
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Downside thresholds: | $48.0975 for Advanced Micro Devices, Inc., $51.6835 for Alphabet Inc., $51.348 for Walt Disney Co., 55% of initial level
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Pricing date: | March 15, 2023
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Settlement date: | March 22, 2023
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.5%
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Cusip: | 48133VCK4
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