Published on 3/28/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $5 million buffer gears linked a weighted five-index basket
By William Gullotti
Buffalo, N.Y., March 28 – JPMorgan Chase Financial Co. LLC priced $5 million of 0% buffer gears due March 21, 2031 linked to a weighted 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 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.
The payout at maturity will be par plus 2.285 times any basket gain.
If the basket falls by up to 20%, the payout will be par. Investors will lose 1% for every 1% of basket decline beyond 20%.
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: | Buffer 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 million
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| Maturity: | March 21, 2031
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Par plus 2.285 times any basket gain; par if basket falls by up to 20%; otherwise, 1% loss per 1% decline beyond 20%
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| Initial levels: | 4,982.76 for Stoxx, 39,740.44 for Nikkei, 7,722.55 for FTSE, 11,623.63 for Swiss Market, 7,675.845 for S&P/ASX
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| Downside threshold: | 80% of initial level
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| Pricing date: | March 18
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| Settlement date: | March 21
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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: | 48131D425
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