By William Gullotti
Buffalo, N.Y., April 22 – JPMorgan Chase Financial Co. LLC priced $6.33 million of 0% trigger autocallable gears due April 23, 2024 linked to the stock performance of Alphabet Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If the stock closes at or above its initial level on April 19, 2023, the notes will be automatically called at par plus 16.15%.
If the notes are not called and the stock finishes at or above its initial level, the payout at maturity will be par plus 1.25 times the stock gain.
If the stock declines but finishes at or above its 75% downside threshold level, the payout will be par. Otherwise, investors will lose 1% for every 1% that the stock’s final level is below its initial level.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the underwriter with UBS Financial Services Inc. as selling agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Trigger autocallable gears
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| Underlying stock: | Alphabet Inc.
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| Amount: | $6,333,600
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| Maturity: | April 23, 2024
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If stock gains, par plus 1.25 times the gain; par if stock falls by 25% or less; full exposure to losses if stock finishes below downside threshold level
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| Call: | At par plus 16.15% if the stock closes at or above its initial level on April 19, 2023
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| Initial level: | $2,553.53
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| Downside threshold: | $1,915.15; 75% of initial level
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| Pricing date: | April 18
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| Settlement date: | April 21
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| Underwriter: | J.P. Morgan Securities LLC
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| Selling agent: | UBS Financial Services Inc.
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| Fees: | 2%
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| Cusip: | 48133B385
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