Published on 7/3/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $4.9 million trigger autocallable gears linked to index basket
By William Gullotti
Buffalo, N.Y., July 3 – JPMorgan Chase Financial Co. LLC priced $4.9 million of 0% trigger autocallable gears due June 30, 2028 linked to a weighted index basket, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes 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.
If the basket closes at or above its initial level on July 1, 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 2.88 times the 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 indexes: | Euro Stoxx 50 (40% weight), Nikkei 225 (25% weight), FTSE 100 (17.5% weight), Swiss Market (10% weight), S&P/ASX 200 (7.5% weight)
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| Amount: | $4,897,500
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| Maturity: | June 30, 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 2.88 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 July 1, 2024
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| Initial levels: | 4,344.75 for Euro Stoxx, 33,193.99 for Nikkei, 7,500.49 for FTSE, 11,183.55 for Swiss Market, 7,196.541 for S&P/ASX
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| Downside threshold: | 75% of initial level
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| Pricing date: | June 28
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| Settlement date: | June 30
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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: | 2.5%
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| Cusip: | 48131C104
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