Published on 5/14/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $500,000 autocallable contingent interest notes on Enphase Energy
By Kiku Steinfeld
Chicago, May 15 – JPMorgan Chase Financial Co. LLC priced $500,000 of autocallable contingent interest notes due July 13, 2023 linked to the common stock of Enphase Energy, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of up to 14.625% over the term of the notes, payable at a rate of 7.3125% per quarter, if the underlying stock closes at or above its 50% trigger level on either April 10, 2023 or July 10, 2023. Coupon payments will include any previously unpaid coupon.
The securities will be called automatically on April 10, 2023 at par if the stock closes at or above its initial level.
If the notes are not called and the stock closes at or above its trigger level on July 10, 2023, the payout at maturity will be par. Otherwise, investors will be fully exposed to the stock decline.
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 stock: | Enphase Energy, Inc. (Ticker: ENPH)
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| Amount: | $500,000
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| Maturity: | July 13, 2023
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| Coupon: | 14.625% over life of notes, payable at 7.3125% per quarter, if the underlying stock closes at or above its trigger level on April 10, 2023 and July 10, 2023; coupon payments will include any previously unpaid coupon
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| Price: | Par
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| Payout at maturity: | If notes are not called and stock closes at or above trigger level on July 10, 2023, par; otherwise, full exposure to stock decline
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| Call: | Automatically on April 10, 2023 at par if the stock closes at or above its initial level
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| Initial level: | $227.94
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| Trigger level: | $113.97, 50% of initial level
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| Pricing date: | Jan. 10, 2023
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| Settlement date: | Jan. 13, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0%
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| Cusip: | 48133TUQ6
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