Published on 10/23/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.68 million return notes linked to basket of 20 stocks
By William Gullotti
Buffalo, N.Y., Oct. 23 – JPMorgan Chase Financial Co. LLC priced $1.68 million of 0% return notes due Oct. 16, 2025 linked to an equally-weighted basket of stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The stock basket consists of American Electric Power Co., Inc., Duke Energy Corp., Wesco International, Inc., GXO Logistics, Inc., Jabil Inc., Flex Ltd., Timken Co., Parker-Hannifin Corp., Honeywell International Inc., Rockwell Automation, Inc., Clean Harbors, Inc., Regal Rexnord Corp., Applied Materials, Inc., Jacobs Solutions Inc., Iqvia Holdings Inc., Waters Corp., Regions Financial Corp., Comerica Inc., Prologis, Inc. and Alexandria Real Estate Equities, Inc.
The payout at maturity will be par times the basket return times a basket adjustment factor of 103.15%.
Investors will lose some or all of their principal amount if the basket return reflects a decline of more than 3.05381%.
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: | Return notes
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| Underlying stocks: | American Electric Power Co., Inc., Duke Energy Corp., Wesco International, Inc., GXO Logistics, Inc., Jabil Inc., Flex Ltd., Timken Co., Parker-Hannifin Corp., Honeywell International Inc., Rockwell Automation, Inc., Clean Harbors, Inc., Regal Rexnord Corp., Applied Materials, Inc., Jacobs Solutions Inc., Iqvia Holdings Inc., Waters Corp., Regions Financial Corp., Comerica Inc., Prologis, Inc., Alexandria Real Estate Equities, Inc.; equal weights
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| Amount: | $1.68 million
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| Maturity: | Oct. 16, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par times basket return times 103.15% basket adjustment factor; investors will lose some or all of their principal amount if the basket return reflects a decline of more than 3.05381%
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| Initial values: | $74.47 for American Electric, $88.68 for Duke Energy, $133.70 for Wesco, $53.30 for GXO, $135.98 for Jabil, $25.77 for Flex, $70.67 for Timken, $392.93 for Parker-Hannifin, $183.56 for Honeywell, $288.32 for Rockwell, $159.40 for Clean Harbors, $129.91 for Regal Rexnord, $141.14 for Applied Materials, $138.43 for Jacobs Solutions, $199.36 for Iqvia, $252.61 for Waters, $16.03 for Regions Financial, $40.78 for Comerica, $109.65 for Prologis, $98.88 for Alexandria Real Estate
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| Pricing date: | Oct. 13
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| Settlement date: | Oct. 18
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | None
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| Cusip: | 48129KCF5
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