Published on 2/21/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $470,000 digital contingent buffered notes on Brent oil futures
By Kiku Steinfeld
Chicago, Feb. 21 – JPMorgan Chase Financial Co. LLC priced $470,000 of 0% digital contingent buffered notes due Nov. 30, 2023 linked to the Brent crude oil futures contract, according to a 424B2 filing with the Securities and Exchange Commission.
If the commodity gains or falls by no more than its 50% buffer, the payout at maturity will be par plus 16.6%. Otherwise, investors will lose 1% for every 1% of decline in commodity price from its initial level.
The notes are guaranteed by JPMorgan Chase & Co.
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: | Digital contingent buffered notes
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Underlying commodity: | Brent crude oil futures contract
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Amount: | $470,000
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Maturity: | Nov. 30, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If commodity gains or declines but by no more than 50% buffer, par plus 16.6%; full exposure to the decline of commodity if it finishes below the contingent buffer
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Initial level: | $95.99
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Digital payment: | 16.6%
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Contingent buffer: | 50%
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Pricing date: | Nov. 11, 2022
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Settlement date: | Nov. 16, 2022
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 48133PBJ1
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