Published on 7/31/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $570,000 9.15% autocallable yield notes linked to MetLife, Wells Fargo
New York, July 31 – JPMorgan Chase Financial Co. LLC priced $570,000 of autocallable yield notes due July 24, 2025 linked to the common stocks of MetLife, Inc. and Wells Fargo & Co., according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting Oct. 23 and on any subsequent quarterly review date.
Investors will receive a coupon of 9.15%, paid quarterly.
If the worst performing stock ends above its 70% downside threshold the payout at maturity will be par plus the coupon. Otherwise investors will lose 1% for every 1% that the worst performing stock declines.
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 yield notes
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Underlying stocks: | MetLife, Inc. and Wells Fargo & Co.
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Amount: | $570,000
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Maturity: | July 24, 2025
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Coupon: | 9.15%, paid quarterly
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Price: | Par
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Payout at maturity: | If worst performing stock finishes at or above its downside threshold level par; otherwise 1% loss for every 1% that worst performing stock declines
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Call: | Automatically starting Oct. 23 and on any subsequent quarterly review date
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Initial levels: | $61.20 for MetLife, Inc., $45.96 for Wells Fargo & Co.
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Downside thresholds: | $42.84 for MetLife, Inc., $32.172 for Wells Fargo & Co., 70% of initial level
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Pricing date: | July 24
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Settlement date: | July 27
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.75%
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Cusip: | 48133YB45
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