Published on 11/22/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $5.06 million trigger gears on index basket
By Taylor Fox
New York, Nov. 23 – JPMorgan Chase Financial Co. LLC priced $5.06 million of 0% trigger gears due Nov. 19, 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 positive, the payout at maturity will be par of $10 plus 1.478 times the basket return.
Investors will receive par if the basket declines by 25% or less and will 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 (40% weight), FTSE 100 index (20% weight), Nikkei 225 index (20% weight), Swiss Market index (7.5% weight), S&P/ASX 200 index (7.5% weight) and Hang Seng index (5% weight)
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| Amount: | $5,056,240
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| Maturity: | Nov. 19, 2025
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Par plus 1.478 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: | 3,466.21 for Stoxx, 25,906.93 for Nikkei, 6,421.29 for FTSE, 6,484.327 for ASX, 10,588.74 for Swiss and 26,381.67 for Hang Seng
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| Downside threshold: | 75% of initial value
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| Pricing date: | Nov. 16
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| Settlement date: | Nov. 18
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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: | 48132N521
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