Published on 4/2/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $256,000 10% autocallable contingent interest notes on three stocks
By Kiku Steinfeld
Chicago, April 2 – JPMorgan Chase Financial Co. LLC priced $256,000 of autocallable contingent interest notes due July 10, 2025 linked to the common stocks of Mastercard Inc., Visa Inc. and American Express Co., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10%, paid quarterly, if each underlying stock closes at or above its 65% trigger level on the related quarterly observation date, plus any previously unpaid coupons.
The securities will be called automatically starting Oct. 5, 2023 at par if the price of each underlying stock is greater than or equal to its initial price and on any subsequent quarterly review date.
At maturity the payout will be par unless the worst performing stock closes below its 65% trigger 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: | Mastercard Inc., Visa Inc. and American Express Co.
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| Amount: | $256,000
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| Maturity: | July 10, 2025
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| Coupon: | 10%, paid quarterly, if each underlying stock closes at or above its 65% trigger level on the related quarterly observation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing stock closes below its trigger level in which case investors will be fully exposed to the decline in the worst performing stock
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| Call: | Automatically starting Oct. 5, 2023 at par if the price of each underlying stock is greater than or equal to its initial price and on any subsequent quarterly review date
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| Initial levels: | $394.73 for Mastercard Inc., $239.45 for Visa Inc., $175.57 for American Express Co.
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| Trigger levels: | $256.5745 for Mastercard Inc., $155.6425 for Visa Inc., $114.1205 for American Express Co., 65% of initial level
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| Pricing date: | July 6, 2023
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| Settlement date: | July 11, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48133YCA0
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