Published on 5/17/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $9.09 million notes tied to basket of six currencies
By Wendy Van Sickle
Columbus, Ohio, May 17 – JPMorgan Chase Financial Co. LLC priced $9.09 million of 0% notes due May 15, 2024 based on a basket of unequally weighted currencies versus the U.S. dollar, according to a 424B2 filing with the Securities and Exchange Commission.
The underlying currencies are the European Union 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) and Swiss franc (3.6% weight)
The payout at maturity will be par plus 104.5% of any basket gain.
Investors will receive par if the basket falls or finishes flat.
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: | Notes
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Underlying currencies: | European Union 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) and the Swiss franc (3.6% weight)
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Amount: | $9,087,000
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Maturity: | May 15, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | 104.5% of any basket gain; par if basket falls or finishes flat
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Initial spot rates: | 1.08905 for euro, 134.87 for yen, 1.225105 for pound sterling, 1.34975 for Canadian dollar, 10.326 for krona and 0.896 for Swiss franc
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Pricing date: | May 12
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Settlement date: | May 17
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Agents: | J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 48133U6C1
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