Published on 6/13/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $5.09 million market-linked notes on dollar vs. currency basket
By William Gullotti
Buffalo, N.Y., June 13 – JPMorgan Chase Financial Co. LLC priced $5.09 million of 0% market-linked notes due May 29, 2024 linked to the performance of the U.S. dollar relative to a 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 with a 57.6% weight, the Japanese yen with a 13.6% weight, the British pound sterling with an 11.9% weight, the Canadian dollar with a 9.1% weight, the Swedish krona with a 4.2% weight and the Swiss franc with a 3.6% weight. The spot rate is expressed as a number of dollars per euro or pound and as a number of yen, Canadian dollars, krona or francs per dollar.
The payout at maturity will be par plus the additional amount, which is equal to 1.1 times the basket return, subject to a maximum payout of par plus 110% and a minimum payout of par.
J.P. Morgan Securities LLC and UBS Financial Services Inc. are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Market linked-notes
|
| Underlying basket: | Euro (57.6% weight), Japanese yen (13.6% weight), British pound sterling (11.9% weight), Canadian dollar (9.1% weight), Swedish krona (4.2% weight), Swiss franc (3.6% weight); relative to dollar
|
| Amount: | $5,087,000
|
| Maturity: | May 29, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus the additional amount, which is equal to 1.1 times the basket return, subject to a maximum payout of par plus 110% and a minimum payout of par
|
| Initial spot rates: | 1.07245 dollars per euro, 1.2352 dollars per pound, 140.27 yen per dollar, 1.3636 Canadian dollars per dollar, 10.7977 krona per dollar, 0.9048 francs per dollar
|
| Pricing date: | May 26
|
| Settlement date: | May 31
|
| Agents: | J.P. Morgan Securities LLC and UBS Financial Services Inc.
|
| Fees: | 1%
|
| Cusip: | 48133U7F3
|
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