By Kiku Steinfeld
Chicago, Oct. 20 – JPMorgan Chase Financial Co. LLC priced $350,000 of callable contingent interest notes due April 2, 2025 linked to the common stock of Bank of America Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 14.8%, paid quarterly, if the underlying stock closes at or above its 60% trigger level on the related quarterly observation date.
If the stock gains or ends above its 60% downside threshold the payout at maturity will be par plus the coupon. Investors will lose 1% for every 1% that the stock declines if it finishes below its downside threshold level.
The securities may be called starting Sept. 28, 2023 at par on a quarterly review date.
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: | Callable contingent interest notes
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| Underlying stock: | Bank of America Corp.
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| Amount: | $350,000
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| Maturity: | April 2, 2025
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| Coupon: | 14.8%, paid quarterly, if the underlying stock closes at or above its 60% trigger level on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above its downside threshold level, par; 1% loss for every 1% that stock declines if it finishes below its downside threshold level
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| Call: | Starting Sept. 28, 2023 at par on a quarterly review date
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| Initial level: | $28.12
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| Downside threshold: | $16.872, 60% of initial level
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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: | 1.75%
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| Cusip: | 48133VJW1
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