Published on 7/24/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $3.25 million buffered enhanced notes on index basket
By Susanna Moon
Chicago, July 24 – JPMorgan Chase Financial Co. LLC priced $3.25 million of 0% buffered enhanced participation notes due Aug. 21, 2019 linked to a 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 FTSE 100 index with a 20% weight, the Topix index with a 27% weight, the Swiss Market index with a 9% weight and the S&P/ASX 200 index with an 8% weight.
The payout at maturity will be par plus 1.6 times any basket gain, up to a maximum settlement amount of $1,294.40 for each $1,000 principal amount.
Investors will receive par if the basket falls by up to 10% and will lose 1.1111% for each 1% decline beyond 10%.
The notes are guaranteed by JPMorgan Chase & Co.
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: | Capped buffered participation equity enhanced notes
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Underlying basket: | Euro Stoxx 50 index (36% weight), FTSE 100 index (20% weight), Topix index (27% weight), Swiss Market index (9% weight) and S&P/ASX 200 index (8% weight)
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Amount: | $3,246,000
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Maturity: | Aug. 21, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.6 times any basket gain, capped at 29.44%; par if basket declines by up to 10%; 1.1111% loss per 1% decline beyond 10%
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Initial levels: | 3,471.64 for Stoxx, 7,683.97 for FTSE, 1,749.59 for Topix, 8,933.97 for Swiss Market and 6,262.70 for S&P/ASX
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Barrier levels: | 90% of initial level
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Pricing date: | July 19
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Settlement date: | July 26
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Agents: | J.P. Morgan Securities LLC
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Fees: | None
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Cusip: | 48129MM29
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