Published on 10/26/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $2.3 million digital buffered equity notes linked to weighted index basket
By William Gullotti
Buffalo, N.Y., Oct. 26 – JPMorgan Chase Financial Co. LLC priced $2.3 million of 0% digital buffered equity notes due Sept. 19, 2024 linked to a weighted basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 36% weight, the Topix index with a 26% weight, the FTSE 100 index with a 17% weight, the Swiss Market index with a 12% weight and the S&P/ASX 200 index with a 9% weight.
The notes are guaranteed by JPMorgan Chase & Co.
If the basket finishes at or above its initial level, the payout at maturity will be the greater of par plus 22% and par plus the basket return.
If the basket declines no farther than the 85% buffer level, the payout at maturity will be par.
Otherwise, investors will lose 1.1765% for every 1% of basket decline beyond 15%.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Digital buffered equity notes
|
| Underlying indexes: | Euro Stoxx 50 index (36% weight), Topix index (26% weight), FTSE 100 index (17% weight), Swiss Market index (12% weight), S&P/ASX 200 index (9% weight)
|
| Amount: | $2,296,000
|
| Maturity: | Sept. 19, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If basket finishes at or above initial level, the greater of par plus 22% and par plus the basket return; if the basket falls up to 15%, par; otherwise, 1.1765% loss for every 1% decline beyond buffer
|
| Initial levels: | 3,492.85 for Stoxx, 1,895.41 for Topix, 6,943.91 for FTSE, 10,473.45 for Swiss Market, 6,730.733 for S&P/ASX
|
| Buffer level: | 85% of initial level
|
| Pricing date: | Oct. 20
|
| Settlement date: | Oct. 27
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.67%
|
| Cusip: | 48133NJ33
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
