Published on 3/6/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $411,000 10.25% autocallable contingent interest notes on three stocks
By Kiku Steinfeld
Chicago, March 6 – JPMorgan Chase Financial Co. LLC priced $411,000 of autocallable contingent interest notes due Nov. 28, 2025 linked to the common stocks of Starbucks Corp., Coca-Cola Co. and Home Depot, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.25%, paid monthly, if each underlying stock closes at or above its 60% trigger level on the related monthly observation date.
The securities will be called automatically starting May 22, 2023 at par and on any subsequent quarterly review date if each stock closes at or above its initial level.
At maturity the payout will be par if each stock closes at or above its trigger level or any stock closes at or above its initial level. Otherwise, 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: | Starbucks Corp., Coca-Cola Co. and Home Depot, Inc.
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Amount: | $411,000
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Maturity: | Nov. 28, 2025
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Coupon: | 10.25%, paid monthly, if each underlying stock closes at or above its 60% trigger level on the related monthly observation date
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Price: | Par
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Payout at maturity: | Par if each stock closes at or above its trigger level or any stock closes at or above its initial level; otherwise investors will be fully exposed to the decline in the worst performing stock
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Call: | Automatically starting May 22, 2023 at par and on any subsequent quarterly review date if each stock closes at or above its initial level
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Initial levels: | $98.43 for Starbucks, $62.35 for Coca-Cola, $324.88 for Home Depot
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Trigger levels: | $59.058 for Starbucks, $37.41 for Coca-Cola, $194.928 for Home, 60% of initial level
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Pricing date: | Nov. 22, 2022
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Settlement date: | Nov. 28, 2022
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Agent: | J.P. Morgan Securities LLC
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Fees: | 3%
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Cusip: | 48133PJW4
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