Published on 7/29/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $13.33 million capped trigger gears on index basket
By Kiku Steinfeld
Chicago, July 29 – JPMorgan Chase Financial Co. LLC priced $13.33 million of 0% capped trigger gears due July 7, 2022 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 the S&P 500 index with a 40% weight, the MSCI EAFE index with a 30% weight, the S&P Midcap 400 index with a 20% weight and the MSCI Emerging Markets index with a 10% weight.
If the basket return is greater than zero, the payout at maturity will be par of $10 plus 2 times the basket return, capped at par plus 30.15%.
Investors will receive par if the basket declines by 25% or less and 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
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Capped trigger gears
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| Underlying basket: | S&P 500 (40% weight), MSCI EAFE (30% weight), S&P Midcap 400 (20% weight), MSCI Emerging Markets (10% weight)
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| Amount: | $13,333,000
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| Maturity: | July 7, 2022
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| Coupon: | 0%
|
| Price: | Par of $10
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| Payout at maturity: | Par plus 2 times any basket gain, capped at par plus 30.15%; 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: | 2,993.07 for S&P 500, 1,916.82for EAFE, 1,945.83 for Midcap, 1,048.95 for EM
|
| Downside threshold: | 75% of initial value
|
| Pricing date: | July 11
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| Settlement date: | July 15
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| Underwriter: | J.P. Morgan Securities LLC, UBS Financial Services Inc.
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| Fees: | 2.5%
|
| Cusip: | 48132E315
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