Published on 5/1/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $295,000 8.75% autocallable contingent interest notes on three stocks
By Kiku Steinfeld
Chicago, May 1 – JPMorgan Chase Financial Co. LLC priced $295,000 of autocallable contingent interest notes due Jan. 2, 2026 linked to the common stocks of Apple Inc., Meta Platforms, Inc. and NVIDIA Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.75%, paid quarterly, if each underlying stock closes at or above its 85% coupon barrier on the related quarterly observation date.
The securities will be called automatically starting Dec. 27, 2023 at par if the price of each underlying stock is greater than or equal to its initial price and on any subsequent quarterly review date.
At maturity the payout will be par plus any coupon.
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: | Apple Inc., Meta Platforms, Inc. and NVIDIA Corp.
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| Amount: | $295,000
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| Maturity: | Jan. 2, 2026
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| Coupon: | 8.75%, paid quarterly, if each underlying stock closes at or above its 85% coupon barrier on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par plus any coupon
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| Call: | Automatically starting Dec. 27, 2023 at par if the price of each underlying stock is greater than or equal to its initial price and on any subsequent quarterly review date
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| Initial levels: | $130.03 for Apple, $116.88 for Meta, $141.21 for NVIDIA
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| Coupon barriers: | $110.5255 for Apple, $99.348 for Meta, $120.0285 for NVIDIA, 85% of initial levels
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| Pricing date: | Dec. 27, 2022
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| Settlement date: | Dec. 30, 2022
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 48133P7J6
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