Published on 10/3/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $13.74 million trigger gears on basket of five indexes
By Wendy Van Sickle
Columbus, Ohio, Oct. 3 – JPMorgan Chase Financial Co. LLC priced $13.74 million of 0% trigger gears due Sept. 30, 2027 linked to an unequally weighted basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The basket consists of Euro Stoxx 50 index with a 40% weight, the Nikkei 225 index with a 25% weight, the FTSE 100 index with a 17.5% weight, the Swiss Market index with a 10% weight, the S&P/ASX 200 index with a 7.5% weight.
If the basket return is positive, the payout at maturity will be par plus 2.07 times the basket return.
Investors will receive par if the basket declines by 30% or less and will be fully exposed to the basket’s decline from its initial level if it declines by more than 30%.
J.P. Morgan Securities LLC and UBS Financial Services Inc. are the agents.
Issuer: | JPMorgan Chase Financial Co. LLC
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Trigger gears
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Underlying basket: | Euro Stoxx 50 index (40% weight), Nikkei 225 index (25% weight), FTSE 100 index (17.5% weight), Swiss Market index (10% weight), S&P/ASX 200 index (7.5% weight)
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Amount: | $13,742,050
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Maturity: | Sept. 30, 2027
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 2.07 times any basket gain; par if basket declines by 30% or less; full exposure to basket’s decline from its initial level if it declines by more than 30%
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Initial levels: | 3,335.3 for Stoxx, 1,855.15 for Topix, 7,005.39 for FTSE, 10,220.76 for Swiss Market, 6,462.027 for S&P/ASX
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Downside threshold: | 70% of initial value
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Pricing date: | Sept. 28
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Settlement date: | Sept. 30
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Agents: | J.P. Morgan Securities LLC and UBS Financial Services Inc.
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Fees: | 3.5%
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Cusip: | 48133J503
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