Published on 7/25/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $500,000 autocallable contingent interest notes on Warner, Walt Disney
New York, July 25 – JPMorgan Chase Financial Co. LLC priced $500,000 of autocallable contingent interest notes due July 23, 2026 linked to the stock performance of Warner Bros. Discovery, Inc. and Walt Disney Co., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 18.25%, paid quarterly, if each underlying stock closes at or above its 60% coupon barrier 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 Jan. 18, 2024.
At maturity, the payout will be par if the laggard stock finishes at or above its 50% trigger level. Otherwise, investors will lose 1% per 1% decline of the laggard stock from its initial level.
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: | Warner Bros. Discovery, Inc. and Walt Disney Co.
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| Amount: | $500,000
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| Maturity: | July 23, 2026
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| Coupon: | 18.25%, paid quarterly, if each underlying stock closes at or above its 60% coupon barrier on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par if each stock finishes at or above trigger level; otherwise, full exposure to decline of laggard stock from initial level
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| Call: | Automatically at par if each stock closes at or above its initial level on any quarterly review date starting Jan. 18, 2024
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| Initial levels: | $12.77 for Warner Bros. Discovery, Inc., $85.95 for Walt Disney Co.
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| Coupon barriers: | $7.662 for Warner Bros. Discovery, Inc., $51.57 for Walt Disney Co., 60% of initial levels
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| Trigger levels: | $6.385 for Warner Bros. Discovery, Inc., $42.975 for Walt Disney Co., 50% of initial levels
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| Strike date: | July 18
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| Pricing date: | July 19
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| Settlement date: | July 24
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.6%
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| Cusip: | 48133YLH5
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