Published on 1/28/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $552,000 19.95% autocallable contingent interest notes on airline stocks
By Kiku Steinfeld
Chicago, Jan. 29 – JPMorgan Chase Financial Co. LLC priced $552,000 of autocallable contingent interest notes due Dec. 12, 2024 linked to the common stocks of Delta Air Lines, Inc., Southwest Airlines Co. and United Airlines Holdings, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 19.95%, paid monthly, if each underlying stock closes at or above its 60% trigger level on the related monthly observation date.
The securities will be called automatically starting Sept. 11, 2023 at par if the price of each underlying stock is greater than or equal to its initial price on any monthly review date.
At maturity the payout will be par unless the worst performing stock closes below its 60% 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
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stocks: | Delta Air Lines, Inc., Southwest Airlines Co. and United Airlines Holdings, Inc.
|
| Amount: | $552,000
|
| Maturity: | Dec. 12, 2024
|
| Coupon: | 19.95%, paid monthly, if each underlying stock closes at or above its 60% trigger level on the related monthly observation date
|
| Price: | Par
|
| 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
|
| Call: | Automatically starting Sept. 11, 2023 at par if the price of each underlying stock is greater than or equal to its initial price on any monthly review date
|
| Initial levels: | $37.77 for Delta Air Lines, Inc., $30.58 for Southwest Airlines Co., $49.59 for United Airlines Holdings, Inc.
|
| Trigger levels: | $22.662 for Delta Air Lines, Inc., $18.348 for Southwest Airlines Co., $29.754 for United Airlines Holdings, Inc., 60% of initial level
|
| Pricing date: | June 9, 2023
|
| Settlement date: | June 14, 2023
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.65%
|
| Cusip: | 48133XPQ3
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
