By Kiku Steinfeld
Chicago, May 12 – JPMorgan Chase Financial Co. LLC priced $611,000 of autocallable yield notes due Jan. 9, 2025 linked to the common stocks of Bank of America Corp. and Freeport-McMoRan Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically at par on any monthly review date after three months if each stock closes at or above 90% of its initial level.
Investors will receive a coupon of 9.8%, paid monthly.
If the worst performing stock ends above its 50% 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: | Bank of America Corp. and Freeport-McMoRan Inc.
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| Amount: | $611,000
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| Maturity: | Jan. 9, 2025
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| Coupon: | 9.8%, paid monthly
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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 at par on any monthly review date after three months if each stock closes at or above 90% of its initial level
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| Initial levels: | $34.07 for BofA, $39.84 for Freeport-McMoRan
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| Downside thresholds: | $17.035 for BofA, $19.92 for Freeport, 50% of initial levels
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| Pricing date: | Jan. 5, 2023
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| Settlement date: | Jan. 10, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3%
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| Cusip: | 48133TQB4
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