Published on 8/4/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $5.13 million trigger gears on index basket
By Sarah Lizee
Olympia, Wash., Aug. 4 – JPMorgan Chase Financial Co. LLC priced $5.13 million of 0% trigger gears due July 31, 2025 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 FTSE 100 index with a 20% weight, the Nikkei 225 index with a 20% weight, the Swiss Market index with a 7.5% weight, the S&P/ASX 200 index with a 7.5% weight and the Hang Seng index with a 5% weight.
If the basket return is greater than zero, the payout at maturity will be par of $10 plus 1.4725 times the basket return.
Investors will receive par if the basket declines by 25% or less and be fully exposed to the basket’s decline from its initial level if it declines by more than 25%.
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 with a 40% weight, the FTSE 100 index with a 20% weight, the Nikkei 225 index with a 20% weight, the Swiss Market index with a 7.5% weight, the S&P/ASX 200 index with a 7.5% weight and the Hang Seng index with a 5% weight
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Amount: | $5,133,160
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Maturity: | July 31, 2025
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 1.4725 times any basket gain; par if basket declines by 25% or less; full exposure to basket’s decline from its initial level if it declines by more than 25%
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Initial levels: | 3,300.16 for Stoxx, 22,397.11 for Nikkei, 6,131.46 for FTSE, 6,006.385 for ASX, 10,272.81 for Swiss and 24,883.14 for Hang Seng
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Downside threshold: | 75% of initial value
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Pricing date: | July 29
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Settlement date: | July 31
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Underwriter: | J.P. Morgan Securities LLC, UBS Financial Services Inc.
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Fees: | 3.5%
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Cusip: | 48132L434
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