Published on 9/15/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $500,000 14.9% autocallable yield notes on three stocks
By Kiku Steinfeld
Chicago, Sept. 15 – JPMorgan Chase Financial Co. LLC priced $500,000 of autocallable yield notes due March 7, 2024 linked to the common stocks of Invesco Ltd., Sherwin-Williams Co. and eBay Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting Sept. 5, 2023 at par on a quarterly review date if each stock closes at or above its initial level.
Investors will receive a coupon of 14.9%, paid quarterly.
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: | Invesco Ltd., Sherwin-Williams Co. and eBay Inc.
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Amount: | $500,000
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Maturity: | March 7, 2024
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Coupon: | 14.9%, 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 Sept. 5, 2023 at par on a quarterly review date if each stock closes at or above its initial level
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Initial levels: | $17.55 for Invesco Ltd., $224.02 for Sherwin-Williams Co., $45.58 for eBay Inc.
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Downside thresholds: | $9.6525 for Invesco Ltd., $123.211 for Sherwin-Williams Co., $25.069 for eBay Inc., 55% of initial level
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Pricing date: | March 3, 2023
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Settlement date: | March 10, 2023
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.5%
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Cusip: | 48133UWJ7
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