Published on 11/22/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.35 million trigger step securities tied to index basket
By Taylor Fox
New York, Nov. 23 – JPMorgan Chase Financial Co. LLC priced $1.35 million of 0% trigger step securities due Nov. 19, 2025 linked to a 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 the Euro Stoxx 50 index with an initial weight of 40%, the FTSE 100 index and the Nikkei 225 index each with an initial weight of 20%, the Swiss Market index and the S&P/ASX 200 index each with an initial weight of 7.5% and the Hang Seng index with an initial weight of 5%.
If the basket return is zero or positive, the payout at maturity will be par of $10 plus the greater of 29.35% and 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 beyond 25%.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Trigger step securities
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| Underlying indexes: | Euro Stoxx 50 (40% weight), FTSE 100 and Nikkei Stock (20% weight each), Swiss Market and S&P/ASX 200 (7.5% weight each) and Hang Seng (5% weight)
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| Amount: | $1,349,590
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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: | If basket return is zero or positive, par plus greater of 29.35% and basket return; par if basket declines by 25% or less; otherwise, full exposure to decline from initial level
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| Initial index level: | 3,466.21 for Stoxx, 6,421.29 for FTSE, 25,906.93 for Nikkei, 10,586.74 for Swiss, 6,484.327 for S&P/ASX, 26,381.67 for Hang Seng
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| Downside threshold: | 75% of initial basket level
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| Pricing date: | Nov. 16
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| Settlement date: | Nov. 18
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| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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| Fees: | 3.5%
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| Cusip: | 48132N513
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