Published on 7/2/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $17.57 million trigger gears on basket of five indexes
By William Gullotti
Buffalo, N.Y., July 2 – JPMorgan Chase Financial Co. LLC priced $17.57 million of 0% trigger gears due June 30, 2026 linked to an unequally 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 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, the S&P/ASX 200 index with a 7.5% weight.
If the basket return is positive, the payout at maturity will be par of $10 plus 1.72 times the basket return.
Investors will receive par if the basket declines by 25% or less and will be fully exposed to the basket’s decline from its initial level if it declines by more than 25%.
J.P. Morgan Securities LLC and UBS Financial Services Inc. are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Trigger 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)
|
| Amount: | $17,568,680
|
| Maturity: | June 30, 2026
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 1.72 times any basket gain; par if basket declines by 25% or less; full exposure to basket’s decline from its initial level if it declines by more than 25%
|
| Initial levels: | 4,089.91 for Stoxx, 29,048.02 for Nikkei, 7,072.97 for FTSE, 12,009.17 for Swiss, 7,307.289 for ASX
|
| Downside threshold: | 75% of initial value
|
| Pricing date: | June 28
|
| Settlement date: | June 30
|
| Agents: | J.P. Morgan Securities LLC and UBS Financial Services Inc.
|
| Fees: | 3.5%
|
| Cusip: | 46652Y661
|
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