Published on 1/4/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $200,000 7.8% autocallable yield notes on stocks
By Kiku Steinfeld
Chicago, Jan. 4 – JPMorgan Chase Financial Co. LLC priced $200,000 of autocallable yield notes due April 24, 2025 linked to the common stocks of Duke Energy Corp., NextEra Energy, Inc. and Southern Co., according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting Oct. 23, 2023 at par if the price of each underlying stock is greater than or equal to its initial price on any quarterly review date.
Investors will receive a coupon of 7.8%, paid quarterly.
If the worst performing stock ends above its 60% 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: | Duke Energy Corp., NextEra Energy, Inc. and Southern Co.
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| Amount: | $200,000
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| Maturity: | April 24, 2025
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| Coupon: | 7.8%, 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 Oct. 23, 2023 at par if the price of each underlying stock is greater than or equal to its initial price on a quarterly review date
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| Initial levels: | $98.36 for Duke Energy Corp., $78.99 for NextEra Energy, Inc., $73.61 for Southern Co.
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| Downside thresholds: | $59.016 for Duke Energy Corp., $47.394 for NextEra Energy, Inc., $44.166 for Southern Co., 60% of initial level
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| Pricing date: | April 24, 2023
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| Settlement date: | April 27, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.75%
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| Cusip: | 48133VX88
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