Published on 3/21/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $2.63 million capped gears linked to 50-50 ETF basket
By William Gullotti
Buffalo, N.Y., March 21 – JPMorgan Chase Financial Co. LLC priced $2.63 million of 0% capped gears due May 20, 2024 linked to a basket equally weighted between the Energy Select Sector SPDR Fund and the Financial Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the basket return is greater than zero, the payout at maturity will be par plus triple the basket return, capped at par plus 27%. If the basket return is negative, investors will be fully exposed to the basket’s decline.
J.P. Morgan is the underwriter with UBS Financial Services Inc. as selling agent.
Issuer: | JPMorgan Chase Financial Co. LLC
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Capped gears
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Underlying funds: | Energy Select Sector SPDR Fund, Financial Select Sector SPDR Fund; equal weights
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Amount: | $2,627,000
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Maturity: | May 20, 2024
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If basket return is greater than zero, par plus three times basket return, capped at par plus 27%; if basket return is negative, exposure to decline
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Initial levels: | $77.36 for Energy, $31.41 for Financial
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Pricing date: | March 15
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Settlement date: | March 20
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Underwriter: | J.P. Morgan with UBS Financial Services Inc. as selling agent
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Fees: | 2%
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Cusip: | 48133K278
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