Published on 7/14/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $630,000 20.5% autocallable contingent interest notes on stocks
Chicago, July 14 – JPMorgan Chase Financial Co. LLC priced $630,000 of autocallable contingent interest notes due July 10, 2025 linked to the common stocks of Amazon.com, Inc., Walt Disney Co. and the class A subordinate voting shares of Shopify Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 20.5%, paid monthly, if each underlying stock closes at or above its 50% trigger level on the related monthly observation date.
The securities will be called automatically starting Jan. 8, 2024 at par and on any subsequent monthly review date if each stock closes above its initial level.
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
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying stocks: | Amazon.com, Inc., Shopify Inc. and Walt Disney Co.
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| Amount: | $630,000
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| Maturity: | July 10, 2025
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| Coupon: | 20.5% annual rate, paid monthly, if each underlying stock closes at or above its 50% trigger level on the related observation date
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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 starting Jan. 8, 2024 at par and on any subsequent monthly review date if each stock closes above its initial level
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| Initial levels: | $128.36 for Amazon, $61.83 for Shopify, $88.74 for Disney
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| Trigger levels: | $64.18 for Amazon, $30.915 for Shopify, $44.37 for Disney;, 50% of initial levels
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| Pricing date: | July 10
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| Settlement date: | July 13
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.1%
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| Cusip: | 48133YDM3
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