Published on 2/7/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $2.5 million digital buffered equity notes linked to weighted index basket
By Wendy Van Sickle
Columbus, Ohio, Feb. 7 – JPMorgan Chase Financial Co. LLC priced $2.5 million of 0% digital buffered equity notes due Feb. 5, 2025 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 20.85% and par plus the basket return.
If the basket declines no farther than the 90% buffer level, the payout at maturity will be par.
Otherwise, investors will lose 1.1111% for every 1% of basket decline beyond 10%.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Digital buffered equity notes
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| 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)
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| Amount: | $2.5 million
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| Maturity: | Feb. 5, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If basket finishes at or above initial level, the greater of par plus 20.85% and par plus the basket return; if the basket falls up to 10%, par; otherwise, 1.1111% loss for every 1% decline beyond buffer
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| Initial levels: | 4,171.44 for Stoxx, 1,972.23 for Topix, 7,761.11 for FTSE, 11,200.93 for Swiss Market, 7,501.661 for S&P/ASX
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| Buffer level: | 90% of initial level
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| Pricing date: | Feb. 2
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| Settlement date: | Feb. 9
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2%
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| Cusip: | 48133TV44
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