Published on 2/15/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.88 million capped buffered equity notes linked to indexes, ETF
By Taylor Fox
New York, Feb. 16 – JPMorgan Chase Financial Co. LLC priced $2.88 million of 0% capped buffered equity notes due Jan. 20, 2023 linked to an unequally weighted basket of the S&P 500 index, with 70% weight, Russell 2000 index, with a 15% weight, and the iShares MSCI EAFE ETF, with a 15% weight, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the final level of the basket is greater than its initial level, the payout at maturity will be par plus the basket’s return, capped at par plus 15.3%.
If the final level of the basket is less than its initial level by up to 15%, par.
If the final level of the basket is less than its initial level by more than 15%, investors will lose 1% for every 1% that the basket declines beyond 15%.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Capped buffered equity notes
|
| Underlying assets: | S&P 500 index, with 70% weight, Russell 2000 index, with a 15% weight, and the iShares MSCI EAFE ETF, with a 15% weight
|
| Amount: | $2,875,000
|
| Maturity: | Jan. 20, 2023
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final level of basket is greater than its initial level, par plus basket’s return, capped at par plus 15.3%; if basket falls by up to 15%, par; if final level of basket is less than initial level by more than 15%, 1% loss for every 1% that basket declines beyond 15% buffer
|
| Initial levels: | 3,768.25 for S&P, $74.40 for iShares and 2,123.201 for Russell
|
| Buffer level: | 85% of initial levels
|
| Pricing date: | Jan. 15
|
| Settlement date: | Jan. 21
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.45%
|
| Cusip: | 48132RGR5
|
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