Published on 8/29/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $250,000 20.5% autocallable yield notes on stocks
Chicago, Aug. 29 – JPMorgan Chase Financial Co. LLC priced $250,000 of autocallable yield notes due Aug. 23, 2023 linked to the least performing of the common stocks of Palantir Technologies Inc., Micron Technology, Inc. and salesforce.com, inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 20.5%, paid quarterly.
The securities will be called automatically starting Nov. 18, 2022 at par and on any subsequent quarterly review date if all three stocks close above 95% of their initial levels.
If the worst performing stock ends above its 55% downside threshold the payout at maturity will be par plus the coupon. Otherwise investors will lose 1% for every 1% that the worst performing stock declines.
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 yield notes
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| Underlying stocks: | Palantir Technologies Inc., Micron Technology, Inc. and salesforce.com, inc.
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| Amount: | $250,000
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| Maturity: | Aug. 23, 2023
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| Coupon: | 20.5% annual rate, paid quarterly
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| Price: | Par
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| Payout at maturity: | If worst performing stock finishes at or above its downside threshold level par; otherwise, 1% loss for every 1% that worst performing stock declines
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| Call: | Automatically starting Nov. 18, 2022 at par and on any subsequent quarterly review date if all three stocks close above call levels
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| Initial levels: | $9.15 for Palantir, $62.98 for Micron, $187.93 for salesforce.com
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| Call levels: | 95% of initial levels
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| Downside thresholds: | $5.0325 for Palantir, $34.639 for Micron, $103.3615 for salesforce, 55% of initial levels
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| Pricing date: | Aug. 19, 2022
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| Settlement date: | Aug. 25, 2022
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.25%
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| Cusip: | 48133MPN4
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