Published on 3/10/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.48 million uncapped buffered notes on index basket
By Marisa Wong
Los Angeles, March 10 – JPMorgan Chase Financial Co. LLC priced $1.48 million of 0% uncapped buffered equity notes due March 4, 2025 linked to a basket of five equity indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The basket consists of the Euro Stoxx 50 index with a 36% weight, the Topix index with a 27% weight, the FTSE 100 index with a 20% weight, the Swiss Market index with a 9% weight and the S&P/ASX 200 index with an 8% weight.
If the basket gains, finishes flat or falls by up to 20%, the payout at maturity will be par plus the greater of the basket return and 21%.
If the basket falls by more than 20%, investors will lose 1% for every 1% basket decline beyond 20%.
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 equity notes
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Underlying basket: | Euro Stoxx 50 index (36% weight), Topix index (27% weight), FTSE 100 index (20% weight), Swiss Market index (9% weight) and S&P/ASX 200 index (8% weight)
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Amount: | $1,479,000
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Maturity: | March 4, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus greater of the basket return and 21% unless basket falls by more than 20%, in which case 1% loss for every 1% basket decline beyond 20%
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Initial index levels: | 3,455.92 for Euro Stoxx, 1,568.06 for Topix, 6,796.40 for FTSE, 10,205.46 for Swiss Market and 6,657.852 for S&P/ASX
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Pricing date: | Feb. 27
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Settlement date: | March 3
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.75%
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Cusip: | 48132HJ86
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