Published on 9/27/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $200,000 15.75% autocallable yield notes on three stocks
By Kiku Steinfeld
Chicago, Sept. 27 – JPMorgan Chase Financial Co. LLC priced $200,000 of autocallable yield notes due March 19, 2024 linked to the common stocks of Amazon.com, Inc., Intel Corp. and PayPal Holdings, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting Sept. 14, 2023 at par on a quarterly review date if each stock closes at or above its initial level.
Investors will receive a coupon of 15.75%, paid quarterly.
If the worst performing stock ends above its 55% 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: | Amazon.com, Inc., Intel Corp. and PayPal Holdings, Inc.
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| Amount: | $200,000
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| Maturity: | March 19, 2024
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| Coupon: | 15.75%, paid quarterly
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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 starting Sept. 14, 2023 at par on a quarterly review date if each stock closes at or above its initial level
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| Initial levels: | $94.88 for Amazon.com, Inc., $28.01 for Intel Corp., $73.24 for PayPal Holdings, Inc.
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| Downside thresholds: | $52.184 for Amazon.com, Inc., $15.4055 for Intel Corp., $40.282 for PayPal Holdings, Inc., 55% of initial level
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| Pricing date: | March 15, 2023
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| Settlement date: | March 22, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.5%
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| Cusip: | 48133VCH1
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