Published on 10/8/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $250,000 16.8% autocallable contingent interest notes on two stocks
By Kiku Steinfeld
Chicago, Oct. 9 – JPMorgan Chase Financial Co. LLC priced $250,000 of autocallable contingent interest notes due March 27, 2024 linked to the common stocks of Goldman Sachs Group, Inc. and Wells Fargo & Co., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 16.8%, paid monthly, if each underlying stock closes at or above its 65% trigger level on the related monthly observation date, plus any previously unpaid coupons.
The securities will be called automatically starting Sept. 22, 2023 at par if the price of each underlying stock is greater than or equal to its initial price on a monthly review date.
At maturity the payout will be par unless the worst performing stock closes below its 65% 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: | Goldman Sachs Group, Inc. and Wells Fargo & Co.
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Amount: | $250,000
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Maturity: | March 27, 2024
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Coupon: | 16.8%, paid monthly, if each underlying stock closes at or above its 65% trigger level on the related monthly observation date, plus any previously unpaid coupons
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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 Sept. 22, 2023 at par if the price of each underlying stock is greater than or equal to its initial price on a monthly review date
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Initial levels: | $313.67 for Goldman Sachs Group, Inc., $37.20 for Wells Fargo & Co.
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Trigger levels: | $203.8855 for Goldman Sachs Group, Inc., $24.18 for Wells Fargo & Co., 65% of initial level
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Pricing date: | March 23, 2023
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Settlement date: | March 28, 2023
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 48133VHB9
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