Published on 6/20/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $15.33 million buffered enhanced participation notes on index basket
By Wendy Van Sickle
Columbus, Ohio, June 20 – JPMorgan Chase Financial Co. LLC priced $15.33 million of 0% buffered enhanced participation basket-linked notes due May 16, 2025 linked to a 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 36% weight, the Topix index with a 26% weight, the FTSE 100 index with a 17% weight, the Swiss Market index with an 12% weight and the S&P/ASX 200 index with a 9% weight.
If the basket return is positive, the payout at maturity will be par plus 1.5161 times the basket return.
Investors will receive par if the basket declines by 10% or less and will lose 1.1111% for every 1% that it declines beyond 10%.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase Financial Co. LLC
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Buffered enhanced participation basket-linked notes
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Underlying basket: | Euro Stoxx 50 (36% weight), Topix (26% weight), FTSE 100 (17% weight), Swiss Market (12% weight), S&P/ASX 200 (9% weight)
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Amount: | $15,325,000
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Maturity: | May 16, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If basket return is positive, par plus 1.5161 times basket return; par if basket declines by 10% or less; otherwise, 1.1111% loss for every 1% that basket declines beyond 10%
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Initial levels: | 4,289.79 for Stoxx, 2,224.32 for Topix, 7,562.36 for FTSE, 11,254.42 for Swiss Market, 7,122.513 for S&P/ASX
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Buffer level: | 90% of initial basket level
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Pricing date: | June 9
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Settlement date: | June 16
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2%
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Cusip: | 48133XLX2
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