Published on 5/24/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $287,000 uncapped buffered return enhanced notes on China ETFs
Chicago, May 24 – JPMorgan Chase Financial Co. LLC priced $287,000 of 0% uncapped buffered return enhanced notes due April 3, 2023 linked to the lesser performing of the KraneShares CSI China Internet ETF and iShares China Large-Cap ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing ETF gains the payout at maturity will be par plus 126% of the return of the worst performing ETF. The payout will be par if the worst performing ETF declines but by no more than the 10% buffer. Investors will lose 1% for every 1% that the worst performing ETF declines beyond the buffer.
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: | Uncapped buffered return enhanced notes
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Underlying ETFs: | KraneShares CSI China Internet ETF and iShares China Large-Cap ETF
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Amount: | $287,000
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Maturity: | April 3, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If worst performing ETF gains par plus 126% of worst performing ETF return; par if worst performing ETF declines but by no more than 10% buffer; 1% loss for every 1% that worst performing ETF declines beyond the buffer
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Initial levels: | $32.97 for KraneShares, $33.94 for iShares
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Buffer levels: | 90% of initial levels
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Upside leverage: | 126%
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Cap: | None
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Buffer: | 10%
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Pricing date: | June 29, 2022
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Settlement date: | July 5, 2022
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.6%
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Cusip: | 48133GU92
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