Published on 4/11/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $2.08 million capped dual directional buffered equity notes on basket
By William Gullotti
Buffalo, N.Y., April 11 – JPMorgan Chase Financial Co. LLC priced $2.08 million of 0% capped dual directional buffered equity notes due July 3, 2025 linked to an equally weighted basket of stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of Broadcom Inc., General Electric Co., Eli Lilly and Co., Meta Platforms, Inc. and Nvidia Corp.
If the basket finishes at or above the initial level, the payout at maturity will be par plus the return of the basket, subject to a maximum payout of par plus 11.25%.
If the basket falls by up to 20%, the return will be par plus the absolute value of the return of the basket.
Otherwise, investors will lose 1% for each 1% decline of the basket beyond 20%.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Capped dual directional buffered equity notes
|
| Underlying stocks: | Broadcom Inc., General Electric Co., Eli Lilly and Co., Meta Platforms, Inc., Nvidia Corp.; equal weights
|
| Amount: | $2,075,000
|
| Maturity: | July 3, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the basket finishes at or above the initial level, par plus basket return, subject to cap of par plus 11.25%; if basket declines by no more than 20%, par plus absolute value of basket return; otherwise, investors will lose 1% for each 1% decline beyond 20%
|
| Initial levels: | $1,325.41 for Broadcom, $175.53 for GE, $777.96 for Eli Lilly, $485.58 for Meta, $903.56 for Nvidia
|
| Buffer level: | 80% of initial level
|
| Pricing date: | March 28
|
| Settlement date: | April 3
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.66626%
|
| Cusip: | 48134XAU9
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
