Published on 12/12/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.33 million bearish autocallable contingent interest notes on stocks
By William Gullotti
Buffalo, N.Y., Dec. 12 – JPMorgan Chase Financial Co. LLC priced $1.33 million of autocallable contingent interest notes due Dec. 12, 2024 linked to the performance of the Nvidia Corp., the Amazon.com, Inc. and the FTI Consulting, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay contingent monthly interest at an annual rate of 32.25% if each stock closes at or below its 135% interest barrier on the related review date.
The notes will be called at par plus the coupon if each stock closes at or below its initial level on any monthly review date after three months.
The payout at maturity will be par plus the final coupon unless the worst performing stock finishes above the 135% trigger level, in which case investors will lose 1% for each 1% gain of that stock from its initial level.
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: | Nvidia Corp., Amazon.com, Inc., FTI Consulting, Inc.
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| Amount: | $1,327,000
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| Maturity: | Dec. 12, 2024
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| Coupon: | 32.25% annual rate, payable monthly if each stock closes at or below its interest barrier on the related monthly review date
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| Price: | Par
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| Payout at maturity: | Par plus the final coupon unless the worst performing stock finishes above trigger level, in which case investors will lose 1% for every 1% gain of that stock’s above initial level
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| Call: | Automatically at par plus the contingent interest payment if each stock closes at or below its initial level on any monthly review date after three months
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| Initial levels: | $455.03 for Nvidia, $144.52 for Amazon, $222.28 for FTI
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| Interest barriers: | $614.2905 for Nvidia, $195.102 for Amazon, $300.078 for FTI; 135% of initial levels
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| Trigger levels: | $614.2905 for Nvidia, $195.102 for Amazon, $300.078 for FTI; 135% of initial levels
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| Pricing date: | Dec. 6
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| Settlement date: | Dec. 11
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.75%
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| Cusip: | 48134RG44
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