Published on 12/9/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.34 million market-linked notes on dollar vs. currency basket
By William Gullotti
Buffalo, N.Y., Dec. 9 – JPMorgan Chase Financial Co. LLC priced $1.34 million of 0% market-linked notes due April 24, 2025 linked to the performance of the U.S. dollar relative to an equally weighted basket of currencies, 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, the Japanese yen, the British pound sterling, the Canadian dollar and the Australian dollar. The spot rate is expressed as a number of dollars per euro, pound or Australian dollar and as a number of yen and Canadian dollars per dollar.
The payout at maturity will be par plus the additional amount, which is equal to 1.15 times the basket return, subject to a maximum payout of par plus 115% and a minimum payout of par.
J.P. Morgan Securities LLC is the agent, with Morgan Stanley Wealth Management handling distribution.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Market linked-notes
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| Underlying basket: | Euro, Japanese yen, British pound sterling, Canadian dollar, Australian dollar; relative to dollar
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| Amount: | $1,336,000
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| Maturity: | April 24, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus the additional amount, which is equal to 1.15 times the basket return, subject to a maximum payout of par plus 115% and a minimum payout of par
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| Initial spot rates: | 0.9718 dollars per euro, 1.11695 dollars per pound, 148.125 yen per dollar, 1.3828 Canadian dollars per dollar, 0.62435 dollars per Australian dollar
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| Pricing date: | Oct. 14
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| Settlement date: | Oct. 19
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| Agent: | J.P. Morgan Securities LLC
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| Distributor: | Morgan Stanley Wealth Management
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| Fees: | 3%
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| Cusip: | 48133MDV9
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