Published on 5/17/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $13.01 million of trigger gears linked to basket of indexes, MSCI EM
By Emma Trincal
New York, May 17 – JPMorgan Chase Financial Co. LLC priced $13 million of 0% trigger gears due May 15, 2026 linked to the lesser performing of the MSCI Emerging Markets index and an unequally weighted 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 40% weight, the Nikkei 225 index with a 25% weight, the FTSE 100 index with a 17.5% weight, the Swiss Market index with a 10% weight and the S&P/ASX 200 index with a 7.5% weight.
If both the basket and the index finish positive the payout at maturity will be par plus 1.78 times the return of the least performing asset.
If either asset falls by up to 50%, the payout will be par.
Investors will lose 1% for every 1% decline of the least performing asset from its initial level if it finishes below the 50% downside threshold.
J.P. Morgan and UBS Financial Services Inc. are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Trigger gears
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| Underlying assets: | MSCI Emerging Markets index and basket of indexes consisting of Euro Stoxx 50 (40% weight), Nikkei 225 (25% weight), FTSE 100 (17.5% weight), Swiss Market (10% weight) and S&P/ASX 200 (7.5% weight)
|
| Amount: | $13,006,000
|
| Maturity: | May 15, 2026
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 1.78 times the least performing asset; par if worst performer declines but finishes above downside threshold; otherwise, full exposure to losses of worst performer
|
| Initial levels: | 3,947.43 for Stoxx, 7,004.63 for FTSE, 28,147.51 for Nikkei, 11,033.90 for Swiss Market, 7,044.874 for S&P/ASX and 1,315.25 for MSCI Emerging Markets
|
| Pricing date: | May 12
|
| Settlement date: | May 17
|
| Underwriters: | J.P. Morgan and UBS Financial Services Inc.
|
| Fees: | 3.5%
|
| Cusip: | 46652Y109
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