Published on 4/24/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $331,000 14.533% autocallable contingent interest notes on stocks
By Kiku Steinfeld
Chicago, April 24 – JPMorgan Chase Financial Co. LLC priced $331,000 of autocallable contingent interest notes due May 2, 2024 linked to the common stocks of Chevron Corp., United Parcel Service, Inc. and Eli Lilly and Co., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.9% per year, paid monthly, if each underlying stock closes at or above its 80% coupon barrier on the related monthly observation date.
The securities will be called automatically starting Oct. 27, 2023 at par if the price of each underlying stock is greater than or equal to its initial price and on any subsequent monthly review date.
At maturity the payout will be par unless any stock closes below its 70% trigger level, in which case investors will be exposed to the decline of the least 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: | Chevron Corp., United Parcel Service, Inc. and Eli Lilly and Co.
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| Amount: | $331,000
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| Maturity: | May 2, 2024
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| Coupon: | 10.9% per year, paid monthly, if each underlying stock closes at or above its 80% coupon barrier on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | Par unless any stock closes below its 70% trigger level, in which case investors will be exposed to the decline of the least performing stock
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| Call: | Automatically starting Oct. 27, 2023 at par if the price of each underlying stock is greater than or equal to its initial price and on any subsequent monthly review date
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| Initial levels: | $159.66 for Chevron, $186.52 for United Parcel Service, $454.99 for Eli Lilly
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| Coupon barrier levels: | $127.728 for Chevron, $149.216 for United Parcel Service, $363.992 for Eli Lilly, 80% of initial levels
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| Trigger levels: | $111.762 for Chevron, $130.564 for United Parcel Service, $318.493 for Eli Lilly, 70% of initial levels
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| Pricing date: | July 27, 2023
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| Settlement date: | Aug. 1, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.6%
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| Cusip: | 48133YMX9
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