By Kiku Steinfeld
Chicago, Sept. 29 – JPMorgan Chase Financial Co. LLC priced $250,000 of autocallable contingent interest notes due March 19, 2026 linked to the common stocks of FedEx Corp. and Southwest Airlines Co., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 21.25%, paid quarterly, if each underlying stock closes at or above its 70% trigger level on the related quarterly observation date.
The securities will be called automatically starting June 16, 2023 at par if the price of each underlying stock is greater than or equal to its initial price on a quarterly review date.
At maturity the payout will be par unless the worst performing stock closes below its 70% trigger level 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: | FedEx Corp. and Southwest Airlines Co.
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| Amount: | $250,000
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| Maturity: | March 19, 2026
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| Coupon: | 21.25%, paid quarterly, if each underlying stock closes at or above its 70% trigger level on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing stock closes below its trigger level in which case investors will be fully exposed to the decline in the worst performing stock
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| Call: | Automatically starting June 16, 2023 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: | $204.05 for FedEx Corp., $30.48 for Southwest Airlines Co.
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| Trigger levels: | $142.835 for FedEx Corp., $21.336 for Southwest Airlines Co., 70% of initial level
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| Pricing date: | March 16, 2023
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| Settlement date: | March 21, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2%
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| Cusip: | 48133VCN8
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