Published on 8/21/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $250,000 23.7% autocallable contingent interest notes on auto stocks
Chicago, Aug. 21 – JPMorgan Chase Financial Co. LLC priced $250,000 of autocallable contingent interest notes due May 2, 2024 linked to the least performing of the common stocks of Ford Motor Co., General Motors Co. and Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 23.7%, paid monthly, if each underlying stock closes at or above its 50% trigger level on the related monthly observation date, plus any previously unpaid coupons.
The securities will be called automatically starting Jan. 30, 2023 at par and on any subsequent monthly review date if each stock closes above its initial level.
At maturity the payout will be par unless the worst performing stock closes below its 50% 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: | Ford Motor Co., General Motors Co. and Tesla, Inc.
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| Amount: | $250,000
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| Maturity: | May 2, 2024
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| Coupon: | 23.7% annual rate, paid monthly, if each underlying stock closes at or above its 50% trigger level on the related monthly observation date, plus any previously unpaid coupons
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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 Jan. 30, 2023 at par and on any subsequent monthly review date if all three stocks close above their initial levels
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| Initial levels: | $14.69 for Ford, $36.26 for General Motors, $891.45 for Tesla
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| Trigger levels: | $7.345 for Ford, $18.13 for General Motors, $445.725 for Tesla, 50% of initial levels
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| Pricing date: | Aug. 3, 2022
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| Settlement date: | Aug. 8, 2022
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.65%
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| Cusip: | 48133LVC3
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