Published on 5/12/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $3.27 million market-linked notes on dollar vs. currency basket
By William Gullotti
Buffalo, N.Y., May 12 – JPMorgan Chase Financial Co. LLC priced $3.27 million of 0% market-linked notes due May 1, 2025 linked to the performance of the U.S. dollar relative to an equally weighted basket of currencies, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The basket consists of the Chinese renminbi, the Brazilian real and the Indian rupee. The spot rate is expressed as a number of renminbi, real and rupees per dollar.
The payout at maturity will be par plus the additional amount, which is equal to 2.5 times the basket return, subject to a maximum payout of par plus 250% and a minimum payout of par.
J.P. Morgan Securities LLC is the agent, with Morgan Stanley Wealth Management handling distribution.
Issuer: | JPMorgan Chase Financial Co. LLC
|
Guarantor: | JPMorgan Chase & Co.
|
Issue: | Market linked-notes
|
Underlying basket: | Chinese renminbi, Brazilian real, Indian rupee; relative to dollar
|
Amount: | $3,273,000
|
Maturity: | May 1, 2025
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | Par plus the additional amount, which is equal to 2.5 times the basket return, subject to a maximum payout of par plus 250% and a minimum payout of par
|
Initial spot rates: | 5.0007 real per dollar, 6.9245 renminbi per dollar, 81.7829 rupees per dollar
|
Pricing date: | April 28
|
Settlement date: | May 3
|
Agent: | J.P. Morgan Securities LLC
|
Distributor: | Morgan Stanley Wealth Management
|
Fees: | 2.5%
|
Cusip: | 48133U5M0
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.