Published on 9/13/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $509,000 13.5% autocallable contingent interest notes on three stocks
Chicago, Sept. 13 – JPMorgan Chase Financial Co. LLC priced $509,000 of autocallable contingent interest notes due Aug. 29, 2025 linked to the least performing of the common stocks of Capital One Financial Corp., NIKE, Inc. and FedEx Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13.5%, paid monthly, if each underlying stock closes at or above its 60% trigger level on the related monthly observation date.
The securities will be called automatically starting Feb. 27, 2023 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 if at least one stock closes above its initial level or all three stocks close above their 60% trigger values. Otherwise, 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: | Capital One Financial Corp., NIKE, Inc. and FedEx Corp.
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| Amount: | $509,000
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| Maturity: | Aug. 29, 2025
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| Coupon: | 13.5% annual rate, paid monthly, if each underlying stock closes at or above its 60% trigger level on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | Par if at least one stock closes above initial level or all three finish above trigger levels; otherwise, investors will be fully exposed to the decline in the worst performing stock
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| Call: | Automatically starting Feb. 27, 2023 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: | $109.82 for Capital One, $108.28 for NIKE, $218.16 for FedEx
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| Trigger levels: | $65.892 for Capital One, $64.968 for NIKE, $130.896 for FedEx, 60% of initial levels
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| Pricing date: | Aug. 26, 2022
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| Settlement date: | Aug. 31, 2022
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3%
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| Cusip: | 48133LF31
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