Published on 9/27/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $200,000 15.7% autocallable yield notes on stocks
By Kiku Steinfeld
Chicago, Sept. 27 – JPMorgan Chase Financial Co. LLC priced $200,000 of autocallable yield notes due March 19, 2024 linked to the common stocks of Ford Motor Co., Qualcomm Inc. and Verizon Communications Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting Sept. 14, 2023 at par on any quarterly review date if each stock closes at or above initial level.
Investors will receive a coupon of 15.7%, paid quarterly.
If the worst performing stock ends above its 55% downside threshold the payout at maturity will be par plus the coupon. Otherwise investors will lose 1% for every 1% that the worst performing stock declines.
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 yield notes
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| Underlying stocks: | Ford Motor Co., Qualcomm Inc. and Verizon Communications Inc.
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| Amount: | $200,000
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| Maturity: | March 19, 2024
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| Coupon: | 15.7%, paid quarterly
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| Price: | Par
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| Payout at maturity: | If worst performing stock finishes at or above its downside threshold level par; otherwise 1% loss for every 1% that worst performing stock declines
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| Call: | Automatically starting Sept. 14, 2023 at par on any quarterly review date if each stock closes at or above initial level
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| Initial levels: | $11.93 for Ford Motor Co., $116.55 for Qualcomm Inc., $36.88 for Verizon Communications Inc.
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| Downside thresholds: | $6.5615 for Ford Motor Co., $64.1025 for Qualcomm Inc., $20.284 for Verizon Communications Inc., 55% of initial level
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| Pricing date: | March 15, 2023
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| Settlement date: | March 22, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.5%
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| Cusip: | 48133VCJ7
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