Published on 12/20/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.25 million capped buffered return enhanced notes on stock basket
By Taylor Fox
New York, Dec. 21 – JPMorgan Chase Financial Co. LLC priced $1.25 million of 0% capped buffered return enhanced notes due Jan. 13, 2022 linked to an equally-weighted basket consisting of ten reference stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The stocks are DocuSign, Inc., Splunk Inc., Slack Technologies, Inc., ServiceNow, Inc., Amazon.com, Inc., Datadog, Inc., Twilio Inc., Alteryx, Inc., RingCentral, Inc. and Veeva Systems Inc.
The payout at maturity will be par plus 1.5 times any basket gain, capped at par plus 15.25%.
Investors will receive par if the basket falls by up to 10% and will lose 1% for each 1% decline 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
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Capped buffered return enhanced notes
|
| Underlying stocks: | DocuSign, Inc., Splunk Inc., Slack Technologies, Inc., ServiceNow, Inc., Amazon.com, Inc., Datadog, Inc., Twilio Inc., Alteryx, Inc., RingCentral, Inc. and Veeva Systems Inc.; basket equally weighted
|
| Amount: | $1,250,000
|
| Maturity: | Jan. 13, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 1.5 times any basket gain, capped at par plus 15.25%; if basket falls by up to buffer, par; otherwise, 1% loss for each 1% decline beyond buffer
|
| Initial stock levels: | $222.59 for DocuSign, $153.49 for Splunk, $42.32 for Slack, $538 for ServiceNow, $3,101.49 for Amazon, $101.53 for Datadog, $334.51 for Twilio, $117.60 for Alteryx, $346.38 for RingCentral and $265.05 for Veeva
|
| Buffer level: | 90% of initial basket level
|
| Pricing date: | Dec. 10
|
| Settlement date: | Dec. 15
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.1%
|
| Cusip: | 48132PL51
|
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