Published on 7/30/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $3.43 million capped buffered enhanced notes tied to index basket
By Wendy Van Sickle
Columbus, Ohio, July 30 – JPMorgan Chase Financial Co. LLC priced $3.43 million of 0% capped buffered enhanced participation notes due July 19, 2020 linked to a 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 37% weight, the FTSE 100 index with a 23% weight, the Topix index with a 23% 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 2times any basket gain, up to a maximum settlement amount of $1,370 per $1,000 of notes.
Investors will receive par if the basket falls by up to 15% and will lose 1.1765% for each 1% decline beyond the buffer.
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 enhanced participation notes
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Underlying indexes: | Euro Stoxx 50 (37% weight), FTSE 100 (23% weight), Topix (23% weight), Swiss Market (9% weight) and S&P/ASX 200 (8% weight)
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Amount: | $3,433,000
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Maturity: | July 29, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 2 times any basket gain, up to a maximum settlement amount of $1,370 per $1,000 of notes; par if basket falls by up to 15%; 1.1765% loss per 1% decline beyond 15%
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Initial index levels: | 3,454.05 for Euro Stoxx 50, 7,655.79 for FTSE 100; 1,738.7 for Topix; 8,959.79 for Swiss Market; 6,227.556 for S&P/ASX 200
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Pricing date: | July 27
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Settlement date: | July 30
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2%
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Cusip: | 48129MN77
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