Published on 8/30/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $270,000 16.8% autocallable contingent interest notes on stocks
Chicago, Aug. 30 – JPMorgan Chase Financial Co. LLC priced $270,000 of autocallable contingent interest notes due Aug. 28, 2025 linked to the common stocks of Stanley Black & Decker, Inc., V.F. Corp. and Walgreens Boots Alliance, Inc., 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 60% trigger level on the related monthly observation date.
The securities will be called automatically starting Nov. 25, 2022 at par if the price of each underlying stock is greater than or equal to its initial price and on any subsequent monthly review date.
At maturity the payout will be par unless the worst performing stock closes below its 60% trigger level and each of the stocks closes below its initial 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: | Stanley Black & Decker, Inc., V.F. Corp. and Walgreens Boots Alliance, Inc.
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Amount: | $270,000
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Maturity: | Aug. 28, 2025
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Coupon: | 16.8% annual rate, paid monthly, if each underlying stock closes at or above its 60% trigger level on the related monthly observation date
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Price: | Par
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Payout at maturity: | Par unless the worst performing stock closes below its trigger level and each of the stocks closes below its initial level in which case investors will be fully exposed to the decline in the worst performing stock
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Call: | Automatically starting Nov. 25, 2022 at par if the price of each underlying stock is greater than or equal to its initial price and on any subsequent monthly review date
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Initial levels: | $93.54 for Stanley, $43.42 for V.F. Corp., $36.77 for Walgreens
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Trigger levels: | $56.124 for Stanley, $26.052 for V.F., $22.062 for Walgreens, 60% of initial levels
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Pricing date: | Aug. 24, 2022
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Settlement date: | Aug. 29, 2022
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.75%
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Cusip: | 48133MTJ9
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