Published on 8/2/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $5.89 million trigger gears on index basket
By Wendy Van Sickle
Columbus, Ohio, Aug. 2 – JPMorgan Chase Financial Co. LLC priced $5.89 million of 0% trigger gears due July 31, 2024 linked to an unequally-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 consists of the Euro Stoxx 50 index with a 40% weight, the FTSE 100 index with a 20% weight, the Nikkei Stock Average index with a 20% weight, the Swiss Market index with a 7.5% weight, the S&P/ASX 200 index with a 7.5% weight and the Hang Seng index with a 5% weight.
If the basket return is greater than zero, the payout at maturity will be par of $10 plus 3.15 times the basket return.
Investors will receive par if the basket declines by 25% or less and be fully exposed to the basket’s decline from its initial level if it declines by more than 25%.
J.P. Morgan Securities LLC and UBS Financial Services Inc. are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Trigger gears
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| Underlying basket: | Euro Stoxx 50 index (40% weight), FTSE 100 index (20% weight), Nikkei Stock Average index (20% weight), Swiss Market index (7.5% weight), S&P/ASX 200 index (7.5% weight) and Hang Seng index (5% weight)
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| Amount: | $5,889,750
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| Maturity: | July 31, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 3.15 times any basket gain; par if basket declines by 25% or less; full exposure to basket’s decline from its initial level if it declines by more than 25%
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| Initial levels: | 3,523.58 for Stoxx, 7,686.61 for FTSE, 21,616.8 for Nikkei, 9.970.87 for Swiss, 6,825.798 for S&P/ASX and 28,106.41 for Hang Seng
|
| Pricing date: | July 29
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| Settlement date: | July 31
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| Underwriter: | J.P. Morgan Securities LLC, UBS Financial Services Inc.
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| Fees: | 3.5%
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| Cusip: | 48132E372
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