Published on 9/11/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $3.91 million 14.35% autocallable contingent interest notes on stocks
Chicago, Sept. 11 – JPMorgan Chase Financial Co. LLC priced $3.91 million of autocallable contingent interest notes due Sept. 10, 2025 linked to the least performing of Apple Inc., NIKE, Inc., ASML Holding, NV, RH and Walt Disney Co., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 14.35%, 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 5, 2024 at par if the price of each underlying stock is greater than or equal to its initial price and on any subsequent quarterly review date.
At maturity the payout will be par unless the worst performing stock declines by more than its 40% buffer in which case investors will lose 1.66667% for each 1% decline beyond the buffer.
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: | Apple Inc., NIKE, Inc., ASML Holding, NV, RH and Walt Disney Co.
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| Amount: | $3,907,000
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| Maturity: | Sept. 10, 2025
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| Coupon: | 14.35% annual rate, 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
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| Payout at maturity: | Par unless the worst performing stock declines by more than its buffer in which case investors will lose 1.66667% for each 1% decline beyond the buffer
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| Call: | Automatically starting March 5, 2024 at par if the price of each underlying stock is greater than or equal to its initial price and on any subsequent quarterly review date
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| Initial levels: | $189.70 for Apple, $100.32 for NIKE, $663.56 for ASML, $385.77 for RH, $81.19 for Disney
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| Coupon barrier levels: | $113.82 for Apple, $60.192 for NIKE, $398.136 for ASML, $231.462 for RH, $48.714 for Disney; 60% of initial levels
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| Buffer thresholds: | $113.82 for Apple, $60.192 for NIKE, $398.136 for ASML, $231.462 for RH, $48.714 for Disney; 60% of initial levels
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| Buffer: | 40%
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| Pricing date: | Sept. 5
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| Settlement date: | Sept. 8
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.65%
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| Cusip: | 48134AQN8
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