Published on 3/31/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $242,000 12% autocallable contingent interest notes on stocks
By Kiku Steinfeld
Chicago, April 1 – JPMorgan Chase Financial Co. LLC priced $242,000 of autocallable contingent interest notes due July 6, 2026 linked to the common stocks of Alphabet Inc., Nvidia Corp. and Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12%, paid quarterly, if each underlying stock closes at or above its 85% coupon barrier on the related quarterly observation date.
The securities will be called automatically starting July 1, 2024 at par if the price of each underlying stock is greater than or equal to its initial price and on any subsequent quarterly review date.
At maturity the payout 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: | Alphabet Inc., Nvidia Corp. and Tesla, Inc.
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Amount: | $242,000
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Maturity: | July 6, 2026
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Coupon: | 12%, paid quarterly, if each underlying stock closes at or above its 85% coupon barrier on the related quarterly observation date
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Price: | Par
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Payout at maturity: | Par
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Call: | Automatically starting July 1, 2024 at par if the price of each underlying stock is greater than or equal to its initial price and on any subsequent quarterly review date
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Initial levels: | $119.70 for Alphabet Inc., $423.02 for Nvidia Corp., $261.77 for Tesla, Inc.
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Coupon barrier levels: | $101.745 for Alphabet Inc., $359.567 for Nvidia Corp., $222.5045 for Tesla, Inc., 85% of initial levels
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Pricing date: | June 30, 2023
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Settlement date: | July 6, 2023
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.58264%
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Cusip: | 48133XFR2
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