Published on 2/2/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.05 million autocallable contingent interest notes on three stocks
Chicago, Feb. 2 – JPMorgan Chase Financial Co. LLC priced $1.05 million of autocallable contingent interest notes due Jan. 8, 2026 linked to the least performing of the shares of CRH plc, Exxon Mobil Corp. and HCA Healthcare, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13.8%, paid monthly, if each underlying stock closes at or above its 60% coupon barrier on the related quarterly observation date. Previously unpaid coupons will also be paid.
The securities will be called automatically starting after six months at par if the price of each underlying stock is greater than or equal to its initial price on a quarterly review date.
At maturity the payout will be par if all three stocks close above their 60% trigger levels. Otherwise, investors will be fully exposed to the losses of the worst performer
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: | CRH plc (Ticker: CRH), Exxon Mobil Corp. (Ticker: XOM) and HCA Healthcare, Inc. (Ticker: HCA)
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| Amount: | $1,048,000
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| Maturity: | Jan. 8, 2026
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| Coupon: | 13.8%, paid monthly, if each underlying stock closes at or above its coupon barrier on the related quarterly observation date; previously unpaid coupons will also be paid
|
| Price: | Par
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| Payout at maturity: | Par if all three stocks close above trigger levels; otherwise, full exposure to losses of worst performer
|
| Call: | Automatically starting after six months at par if the price of each underlying stock is greater than or equal to its initial price on a quarterly review date
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| Initial levels: | $66.87 for CRH, $102.63 for Exxon, $275.84 for HCA
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| Coupon barrier levels: | $40.122 for CRH, $61.578 for Exxon, $165.504 for HCA; 60% of initial levels
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| Barrier levels: | $40.122 for CRH, $61.578 for Exxon, $165.504 for HCA; 60% of initial levels
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| Strike date: | Jan. 5
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| Pricing date: | Jan. 9
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| Settlement date: | Jan. 12
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.15%
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| Cusip: | 48134TQT4
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