Published on 9/10/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $500,000 uncapped buffered digital notes on Stoxx, EAFE ETF
By Kiku Steinfeld
Chicago, Sept. 11 – JPMorgan Chase Financial Co. LLC priced $500,000 of 0% uncapped buffered digital notes due March 2, 2028 linked to the least performing of the Euro Stoxx 50 index and the iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If each asset finishes at or above 141.9% of its initial level, the payout at maturity will be par plus 41.9% and then an additional 1.25% for each 1% gain of the laggard asset above the 141.9% level.
If the return of the laggard asset is positive but not quite 141.9% of the initial level, the payout will be par plus the 41.9% digital return.
Investors will receive par if the laggard asset falls but by no more than 20% and lose 1% for each 1% of its decline beyond 20%.
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: | Uncapped buffered digital notes
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| Underliers: | Euro Stoxx 50 index, iShares MSCI EAFE ETF
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| Amount: | $500,000
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| Maturity: | March 2, 2028
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each asset finishes at or above 141.9% of initial level, par plus 41.9% and then 1.25% for each 1% gain of the laggard asset above 141.9%; if return of the laggard asset is positive but below 141.9% of the initial level, par plus 41.9%; par if laggard asset falls but not by more than 20%; 1% for each 1% of laggard’s decline beyond 20%
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| Initial levels: | 4,238.38 for index, $69.35 for ETF
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| Upside threshold levels: | 6,014.2612 for index, $98.4077 for ETF, 141.9% of initial levels
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| Buffer levels: | 80% of initial levels
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| Pricing date: | Feb. 28, 2023
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| Settlement date: | March 3, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48133UGR7
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