By Kiku Steinfeld
Chicago, Feb. 23 – JPMorgan Chase Financial Co. LLC priced $500,000 of autocallable yield notes due Sept. 26, 2024 linked to the common stocks of Bank of America Corp., Citigroup Inc. and Wells Fargo & Co., according to a 424B2 filing with the Securities and Exchange Commission.
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 any quarterly review date.
Investors will receive a coupon of 10.8%, paid quarterly.
At maturity the payout will be par if the worst performing stock gains or declines by no more than the 20% buffer. Otherwise investors will receive par less 125% of the worst performing stock loss 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 yield notes
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| Underlying stocks: | Bank of America Corp., Citigroup Inc. and Wells Fargo & Co.
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| Amount: | $500,000
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| Maturity: | Sept. 26, 2024
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| Coupon: | 10.8%, paid quarterly
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| Price: | Par
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| Payout at maturity: | If worst performing stock gains or declines by no more than the buffer, par; otherwise par less 125% times the loss beyond the buffer
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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 any quarterly review date
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| Initial levels: | $27.96 for Bank of America Corp., $46.63 for Citigroup Inc., $41.06 for Wells Fargo & Co.
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| Buffer: | 20%
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| Downside leverage: | 125%
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| Pricing date: | June 23, 2023
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| Settlement date: | June 28, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2%
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| Cusip: | 48133XH58
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