Published on 10/20/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $209,000 9.5% autocallable contingent interest notes on stocks
By Kiku Steinfeld
Chicago, Oct. 20 – JPMorgan Chase Financial Co. LLC priced $209,000 of autocallable contingent interest notes due April 2, 2026 linked to the common stocks of Amazon.com, Inc., Tesla, Inc. and Meta Platforms, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.5%, paid quarterly, if each underlying stock closes at or above its 85% barrier on the related quarterly observation date.
The securities will be called automatically starting March 28, 2024 at par if the price of each underlying stock is greater than or equal to its initial price on a quarterly review date.
If the notes are not called, the payout at maturity will be par plus any interest.
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: | Amazon.com, Inc., Tesla, Inc. and Meta Platforms, Inc.
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| Amount: | $209,000
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| Maturity: | April 2, 2026
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| Coupon: | 9.5%, paid quarterly, if each underlying stock closes at or above its barrier on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par plus any interest
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| Call: | Automatically starting March 28, 2024 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: | $97.24 for Amazon, $189.19 for Tesla, $200.68 for Meta
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| Barrier levels: | $82.654 for Amazon, $170.578 for Tesla, $170.578 for Meta
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| Pricing date: | March 28, 2023
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| Settlement date: | March 31, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 48133UR38
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