Published on 11/13/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.16 million autocallable contingent interest notes on three stocks
New York, Nov. 13 – JPMorgan Chase Financial Co. LLC priced $2.16 million of autocallable contingent interest notes due Nov. 5, 2026 linked to the stocks of Albemarle Corp., Altria Group, Inc. and International Paper Co., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12%, paid monthly, if each underlying stock closes at or above its 60% downside threshold on the related monthly observation date, plus any previously unpaid coupons.
The securities will be called automatically at par if the closing price of each underlying stock is greater than or equal to its initial price on any quarterly review date starting Nov. 1, 2024.
At maturity, the payout will be par unless the worst performing stock declines by more than 40%, in which case investors will be exposed to the decline of the worst performing stock beyond 40%.
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: | Albemarle Corp., Altria Group, Inc., par value $0.33 1/3 and International Paper Co.
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| Amount: | $2,163,000
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| Maturity: | Nov. 5, 2026
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| Coupon: | 12%, paid monthly, if each underlying stock closes at or above its 60% downside threshold on the related monthly observation date, plus any previously unpaid coupons
|
| Price: | Par
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| Payout at maturity: | Par unless the worst performing stock declines by more than 40%, in which case investors will be exposed to the decline in the worst performing stock beyond 40%
|
| Call: | Automatically at par if the closing price of each underlying stock is greater than or equal to its initial price on any quarterly review date starting Nov. 1, 2024
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| Initial levels: | $122.96 for Albemarle Corp., $39.90 for Altria Group, Inc., par value $0.33 1/3, $33.61 for International Paper Co.
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| Buffer: | 40%
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| Pricing date: | Nov. 1
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| Settlement date: | Nov. 6
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.2%
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| Cusip: | 48134BG56
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