Published on 8/25/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $5.65 million trigger autocallable gears linked to index basket
Chicago, Aug. 25 – JPMorgan Chase Financial Co. LLC priced $5.65 million of 0% trigger autocallable gears due Aug. 23, 2028 linked to the performance of a basket of five indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the Euro Stoxx 50 index (40% weight), Nikkei 225 index (25% weight), FTSE 100 index (17.5% weight), Swiss Market index (10% weight) and S&P/ASX 200 index (7.5% weight).
If the basket closes at or above its initial level on Aug. 26, 2024, the notes will be automatically called at par plus 10%.
If the notes are not called and the basket finishes at or above its initial level, the payout at maturity will be par plus 3.2435 times the basket gain.
If the basket declines but finishes at or above its 75% downside threshold level, the payout will be par. Otherwise, investors will lose 1% for every 1% that the basket’s final level is below its initial level.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the underwriter with UBS Financial Services Inc. as selling agent.
Issuer: | JPMorgan Chase Financial Co. LLC
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Trigger autocallable gears
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Underlying basket: | Euro Stoxx 50 index (40% weight), Nikkei 225 index (25% weight), FTSE 100 index (17.5% weight), Swiss Market index (10% weight), S&P/ASX 200 index (7.5% weight)
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Amount: | $5,654,000
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Maturity: | Aug. 23, 2028
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If basket gains, par plus 3.2435 times the gain; par if basket falls by 25% or less; full exposure to losses if basket finishes below downside threshold level
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Call: | At par plus 10% if the basket closes at or above its initial level on Aug. 26, 2024
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Initial level: | 4,212.95 for Stoxx, 31,450.76 for Nikkei, 7,262.43 for FTSE, 10,839.06 for Swiss, 7,148.062 for S&P/ASX
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Downside threshold: | 75% of initial level
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Pricing date: | Aug. 18
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Settlement date: | Aug. 23
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Underwriter: | J.P. Morgan Securities LLC
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Selling agent: | UBS Financial Services Inc.
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Fees: | 2%
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Cusip: | 48131C534
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