By Kiku Steinfeld
Chicago, Feb. 5 – JPMorgan Chase Financial Co. LLC priced $450,000 of autocallable yield notes due June 18, 2026 linked to the common stocks of U.S. Bancorp and Wells Fargo & Co., according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting Sept. 15, 2023 at par if the price of each underlying stock is greater than or equal to its initial price on a quarterly review date.
Investors will receive a coupon of 10.75%, 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: | U.S. Bancorp and Wells Fargo & Co.
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Amount: | $450,000
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Maturity: | June 18, 2026
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Coupon: | 10.75%, 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 Sept. 15, 2023 at par if the price of each underlying stock is greater than or equal to its initial price on a quarterly review date
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Initial levels: | $33.29 for U.S. Bancorp, $42.36 for Wells Fargo & Co.
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Downside thresholds: | $23.303 for U.S. Bancorp, $29.652 for Wells Fargo & Co., 70% of initial level
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Pricing date: | June 16, 2023
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Settlement date: | June 22, 2023
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Agent: | J.P. Morgan Securities LLC
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Fees: | 3.25%
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Cusip: | 48133XWA0
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