Published on 6/12/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $5.85 million capped gears linked a weighted five-index basket
By William Gullotti
Buffalo, N.Y., June 12 – JPMorgan Chase Financial Co. LLC priced $5.85 million of 0% capped gears due July 31, 2024 linked to a 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 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.
The payout at maturity will be par of $10 plus triple any index gain, capped at par plus 21.5%.
Investors will be fully exposed to any basket decline.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
Issuer: | JPMorgan Chase Financial Co. LLC
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Capped 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)
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Amount: | $5,853,620
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Maturity: | July 31, 2024
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus three times any basket gain, capped at par plus 21.5%; otherwise, full exposure to loss
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Initial levels: | 4,337.5 for Stoxx, 30,916.31 for Nikkei, 7,627.2 for FTSE, 11,434.24 for Swiss Market, 7,154.755 for S&P/ASX
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Pricing date: | May 26
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Settlement date: | May 31
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Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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Fees: | 2%
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Cusip: | 48130Y511
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