Published on 1/23/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $2.67 million capped gears linked to index basket
By William Gullotti
Buffalo, N.Y., Jan. 23 – JPMorgan Chase Financial Co. LLC priced $2.67 million of 0% capped gears due Feb. 29, 2024 linked to a weighted basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The basket is comprised of the Euro Stoxx 50 index with a 40% weight, the Nikkei 225 index with a 25% weight, the FTSE 100 index with a 17.5% weight, the Swiss Market index with a 10% weight and the S&P/ASX 200 index with a 7.5% weight.
If the basket return is greater than zero, the payout at maturity will be par plus triple the basket return, capped at par plus 25%.
If the basket return is negative, investors will be fully exposed to the basket’s decline.
J.P. Morgan is the underwriter with UBS Financial Services Inc. as selling agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Capped gears
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| Underlying indexes: | Euro Stoxx 50 (40% weight), Nikkei 225 (25% weight), FTSE 100 (17.5% weight), Swiss Market (10% weight), S&P/ASX 200 (7.5% weight)
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| Amount: | $2,672,100
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| Maturity: | Feb. 29, 2024
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| Coupon: | 0%
|
| Price: | Par of $10
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| Payout at maturity: | If basket return is greater than zero, par plus three times basket return, capped at par plus 25%; if basket return is negative, full exposure to decline
|
| Initial levels: | 3,808.82 for Euro Stoxx, 26,340.5 for Nikkei, 7,497.19 for FTSE, 10,812.67 for Swiss Market, 7,086.407 for S&P/ASX
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| Pricing date: | Dec. 28
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| Settlement date: | Dec. 30
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| Underwriter: | J.P. Morgan with UBS Financial Services Inc. as selling agent
|
| Fees: | 2%
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| Cusip: | 48133K740
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