By Wendy Van Sickle
Columbus, Ohio, April 19 – JPMorgan Chase Financial Co. LLC priced $10 million of autocallable contingent interest notes due May 1, 2023 linked to Freeport-McMoRan Inc. common stock, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.5%, paid quarterly, if the underlying stock closes at or above its 50% coupon barrier on the related quarterly observation date, plus any previously unpaid coupon.
The securities will be called automatically if the price of the underlying stock is greater than or equal to its initial price and on any quarterly review date.
At maturity the payout will be par unless the stock closes below its 50% trigger level in which case investors will be fully exposed to the decline of the 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 stock: | Freeport-McMoRan Inc.
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| Amount: | $10 million
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| Maturity: | May 1, 2023
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| Coupon: | 11.5%, paid quarterly, if the underlying stock closes at or above its 50% coupon barrier on the related quarterly observation date, plus any previously unpaid coupon
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| Price: | Par
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| Payout at maturity: | Par unless the stock closes below its trigger level in which case investors will be fully exposed to the decline in the underlying stock
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| Call: | Automatically if the price of the underlying stock is greater than or equal to its initial price and on any quarterly review date
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| Initial level: | $49.43
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| Trigger level: | $24.715, 50% of initial level
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| Coupon barrier: | $24.715, 50% of initial level
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| Final level: | Average of closing priced on five trading days ending April 26, 2023
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| Pricing date: | April 14
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| Settlement date: | April 20
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48133FA96
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