Published on 4/6/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $525,000 buffered digital notes linked to iShares MSCI EAFE
By Kiku Steinfeld
Chicago, April 6 – JPMorgan Chase Financial Co. LLC priced $525,000 of 0% buffered digital notes due June 16, 2021 linked to the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF return is greater than or equal to negative 20% of the initial strike price, the payout at maturity will be par plus 7.5%. Otherwise, investors will lose 1% for every 1% that the ETF declines beyond 20%.
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: | Buffered digital notes
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Underlying ETF: | iShares MSCI EAFE
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Amount: | $525,000
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Maturity: | June 16, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If ETF return is greater than or equal to negative 20%, par plus 7.5%; otherwise, 1% loss for every 1% that ETF declines beyond 20%
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Initial strike price: | $56.05
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Buffer level: | 80% of initial strike price
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Pricing date: | March 13
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Settlement date: | March 18
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.55%
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Cusip: | 48132KKC8
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