New York, April 14 – JPMorgan Chase Financial Co. LLC priced $1.69 million of autocallable contingent interest notes due April 15, 2025 linked to the common stocks of Devon Energy Corp. and Occidental Petroleum Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 16.5%, 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 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 Oct. 10, 2023.
At maturity, the payout will be par unless the worst performing stock finishes 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 Occidental Petroleum Corp.
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| Amount: | $1,685,000
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| Maturity: | April 15, 2025
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| Coupon: | 16.5%, 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 finishes 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 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 Oct. 10, 2023
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| Initial levels: | $53.39 for Devon Energy Corp., $64.09 for Occidental Petroleum Corp.
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| Trigger levels: | $26.695 for Devon Energy Corp., $32.045 for Occidental Petroleum Corp., 50% of initial level
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| Pricing date: | April 10
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| Settlement date: | April 12
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3%
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| Cusip: | 48133VVE7
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