By Kiku Steinfeld
Chicago, June 30 – JPMorgan Chase Financial Co. LLC priced $180,000 of autocallable contingent interest notes due Feb. 5, 2026 linked to the common stocks of Delta Air Lines, Inc. and Southwest Airlines Co., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.5%, paid quarterly, if each underlying stock closes at or above its 70% trigger level on the related quarterly observation date, plus any previously unpaid coupons.
The securities will be called automatically at par on any quarterly review date if each stock closes at or above its initial levels.
At maturity the payout will be par unless the worst performing stock closes below its 70% 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: | Delta Air Lines, Inc. and Southwest Airlines Co.
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Amount: | $180,000
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Maturity: | Feb. 5, 2026
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Coupon: | 12.5%, paid quarterly, if each underlying stock closes at or above its 70% trigger level on the related quarterly observation date, plus any previously unpaid coupons
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Price: | Par
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Payout at maturity: | Par unless the worst performing stock closes 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 on any quarterly review date if each stock closes at or above its initial levels
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Initial levels: | $39.90 for Delta, $36.82 for Southwest
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Trigger levels: | $27.93 for Delta, $25.774 for Southwest, 70% of initial levels
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Pricing date: | Feb. 3, 2023
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Settlement date: | Feb. 8, 2023
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.75%
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Cusip: | 48133UB27
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