Published on 10/17/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.16 million 20.65% contingent interest autocallables on three stocks
By Wendy Van Sickle
Columbus, Ohio, Oct. 17 – JPMorgan Chase Financial Co. LLC priced $2.16 million of autocallable contingent interest notes due July 15, 2026 linked to the common stocks of Amazon.com, Inc., Microsoft Corp. and Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 20.65%, paid monthly, if each underlying stock closes at or above its 70% trigger level on the related monthly observation date.
After three months, the securities will be called automatically at par if the price of each underlying stock is greater than or equal to its initial price on any monthly review date.
At maturity the payout will be par unless the worst performing stock declines by more than 30%, in which case investors will be fully exposed to the decline of the worst performing stock.
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., Microsoft Corp., Apple Inc.
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Amount: | $2,164,000
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Maturity: | July 15, 2026
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Coupon: | 20.65%, paid monthly, if each underlying stock closes at or above its 70% trigger level on the related monthly observation date
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Price: | Par
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Payout at maturity: | Par unless the worst performing stock declines by more than 30%, in which case investors will be fully exposed to the decline in the worst performing stock
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Call: | Automatically at par if the price of each underlying stock is greater than or equal to its initial price on any monthly review date after three months
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Initial levels: | $129.48 for Amazon.com, $328.39 for Microsoft, $178.39 for Apple
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Trigger: | $90.636 for Amazon.com, $229.873 for Microsoft, $124.873 for Apple; 70% of initial levels
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Pricing date: | Oct. 10
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Settlement date: | Oct. 13
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.7%
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Cusip: | 48134BRK1
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