By Kiku Steinfeld
Chicago, Aug. 11 – JPMorgan Chase Financial Co. LLC priced $974,000 of autocallable contingent interest notes due Feb. 27, 2025 linked to the common stocks of Devon Energy Corp. and Halliburton Co., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 15.9%, paid quarterly, if each underlying stock closes at or above its 50% trigger level on the related quarterly observation date.
The securities will be called automatically starting Aug. 24, 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 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: | Devon Energy Corp. and Halliburton Co.
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Amount: | $974,000
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Maturity: | Feb. 27, 2025
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Coupon: | 15.9%, paid quarterly, if each underlying stock closes at or above its 50% 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 Aug. 24, 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: | $55.00 for Devon, $36.99 for Halliburton
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Trigger levels: | $27.50 for Devon, $18.495 for Halliburton, 50% of initial levels
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Pricing date: | Feb. 24, 2023
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Settlement date: | Feb. 28, 2023
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Agent: | J.P. Morgan Securities LLC
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Fees: | 3.25%
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Cusip: | 48133UJ78
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