Published on 10/13/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $787,000 33% autocallable contingent interest notes on stocks, ETF
By Kiku Steinfeld
Chicago, Oct. 13 – JPMorgan Chase Financial Co. LLC priced $787,000 of autocallable contingent interest notes due Sept. 27, 2024 linked to Amazon.com, Inc., Antero Resources Corp. and Financial Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 33%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date.
The securities will be called automatically starting June 26, 2023 at par if the level of each underlier is greater than or equal to its initial price on a monthly review date.
At maturity the payout will be par unless the worst performing asset closes below its 60% trigger level in which case investors will be fully exposed to the decline of the worst performing asset.
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 assets: | Amazon.com, Inc., Antero Resources Corp. and Financial Select Sector SPDR Fund
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| Amount: | $787,000
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| Maturity: | Sept. 27, 2024
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| Coupon: | 33%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing asset closes below its trigger level in which case investors will be fully exposed to the decline in the worst performing asset
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| Call: | Automatically starting June 26, 2023 at par if the level of each underlier is greater than or equal to its initial price on a monthly review date
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| Initial levels: | $21.72 for Antero, $98.13 for Amazon, $30.99 for fund
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| Coupon barriers: | $15.204 for Antero, $68.691 for Amazon, $21.693 for fund, 70% of initial levels
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| Trigger levels: | $13.032 for Antero, $58.878 for Amazon, $18.594 for fund, 60% of initial levels
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| Pricing date: | March 24, 2023
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| Settlement date: | March 29, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.7%
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| Cusip: | 48133VGX2
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