Published on 11/10/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $816,000 10% autocallable contingent interest notes on oil stocks
By Kiku Steinfeld
Chicago, Nov. 10 – JPMorgan Chase Financial Co. LLC priced $816,000 of autocallable contingent interest notes due April 15, 2025 linked to the common stocks of Chevron Corp., ConocoPhillips and Exxon Mobil Corp., 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 50% trigger level on the related quarterly observation date.
The securities will be called automatically starting Oct. 10, 2023 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 unless the worst performing stock closes below its 50% 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: | Chevron Corp., ConocoPhillips and Exxon Mobil Corp.
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| Amount: | $816,000
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| Maturity: | April 15, 2025
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| Coupon: | 10%, paid quarterly, if each underlying stock closes at or above its 50% trigger level on the related quarterly 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 in which case investors will be fully exposed to the decline in the worst performing stock
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| Call: | Automatically starting Oct. 10, 2023 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: | $168.29 for Chevron Corp., $105.95 for ConocoPhillips, $114.54 for Exxon Mobil Corp.
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| Trigger levels: | $84.145 for Chevron Corp., $52.975 for ConocoPhillips, $57.27 for Exxon Mobil Corp., 50% of initial level
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| Pricing date: | April 10, 2023
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| Settlement date: | April 12, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3%
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| Cusip: | 48133VVF4
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