Published on 7/5/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.7 million autocallable contingent interest notes on two stocks
New York, July 5 – JPMorgan Chase Financial Co. LLC priced $1.70 million of autocallable contingent interest notes due July 1, 2027 linked to the class A common stock of Spirit AeroSystems Holdings, Inc. and the common stock of Boeing Co., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 14.25%, paid quarterly, if each underlying stock closes at or above its 50% trigger level on the related quarterly observation date.
The securities will be called automatically at par if each stock closes at or above its initial level on any quarterly review date starting June 28, 2024.
At maturity, the payout will be par unless the worst performing stock finishes below its 50% 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: | Spirit AeroSystems Holdings, Inc. and Boeing Co.
|
| Amount: | $1,699,000
|
| Maturity: | July 1, 2027
|
| Coupon: | 14.25%, paid quarterly, if each underlying stock closes at or above its 50% trigger level on the related quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless the worst performing stock finishes below its trigger level, in which case investors will be fully exposed to the decline in the worst performing stock
|
| Call: | Automatically at par if each stock closes at or above its initial level on any quarterly review date starting June 28, 2024
|
| Initial levels: | $28.98 for Spirit AeroSystems Holdings, Inc., $210.72 for Boeing Co.
|
| Trigger levels: | $14.49 for Spirit AeroSystems Holdings, Inc., $105.36 for Boeing Co., 50% of initial level
|
| Strike date: | June 28
|
| Pricing date: | June 29
|
| Settlement date: | June 30
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.75%
|
| Cusip: | 48133X2Z8
|
|
|
© 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.
