Published on 9/12/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $380,000 capped buffered return enhanced notes tied to IT security stocks
By Angela McDaniels
Tacoma, Wash., Sept. 12 – JPMorgan Chase Financial Co. LLC priced $380,000 of 0% capped buffered return enhanced notes due Sept. 6, 2024 linked a basket holding equal weights of the ordinary shares of Check Point Software Technologies Ltd., the class A common stock of Datadog, Inc., the common stock of Fortinet, Inc. and the common stock of Palo Alto Networks, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If the final basket level is greater than the initial basket level, the payout at maturity will be par plus 150% of the basket return, subject to a maximum return of 31.65%. If the basket declines by up to 10%, the payout will be par. Otherwise, investors will lose 1% for every 1% that the basket declines beyond 10%.
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: | Capped buffered return enhanced notes
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| Underlying stocks: | Check Point Software Technologies Ltd., Datadog, Inc., Fortinet, Inc. and Palo Alto Networks, Inc., equally weighted
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| Amount: | $380,000
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| Maturity: | Sept. 6, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final basket level is greater than initial basket level, par plus 150% of basket return, subject to maximum return of 31.65%; if basket declines by up to 10%, par; otherwise, 1% loss for every 1% that basket declines beyond 10%
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| Initial share prices: | $119.62 for Check Point, $97.14 for Datadog, $48.55 for Fortinet and $545.15 for Palo Alto
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| Buffer level: | 90% of initial level
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| Pricing date: | Sept. 1, 2022
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| Settlement date: | Sept. 7, 2022
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2%
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| Cusip: | 48133MUU2
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