Published on 5/1/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $519,000 20.3% autocallable contingent interest notes on three stocks
By Kiku Steinfeld
Chicago, May 1 – JPMorgan Chase Financial Co. LLC priced $519,000 of autocallable contingent interest notes due Dec. 30, 2027 linked to the common stocks of Advanced Micro Devices, Inc., Tesla, Inc. and Walt Disney Co., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 20.3%, paid monthly, if each underlying stock closes at or above its 60% coupon barrier on the related monthly observation date, plus any previously unpaid coupons.
The securities will be called automatically starting March 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 the worst performing stock closes 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: | Advanced Micro Devices, Inc., Tesla, Inc. and Walt Disney Co.
|
| Amount: | $519,000
|
| Maturity: | Dec. 30, 2027
|
| Coupon: | 20.3%, paid monthly, if each underlying stock closes at or above its 60% coupon barrier on the related monthly observation date, plus any previously unpaid coupons
|
| 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 March 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
|
| Initial levels: | $63.27 for Advanced, $109.10 for Tesla, $86.37 for Disney
|
| Trigger levels: | $31.635 for Advanced, $54.55 for Tesla, $43.185 for Disney, 50% of initial level
|
| Coupon barriers: | $37.962 for Advanced, $65.46 for Tesla, $51.822 for Disney, 60% of initial levels
|
| Pricing date: | Dec. 27, 2022
|
| Settlement date: | Dec. 30, 2022
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2%
|
| Cusip: | 48133PYJ6
|
|
|
© 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.
