Published on 2/28/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $12.67 million of trigger gears linked to index basket
By Sarah Lizee
Olympia, Wash., Feb. 28 – JPMorgan Chase Financial Co. LLC priced $12.67 million of 0% trigger gears due Feb. 28, 2030 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The basket includes the Euro Stoxx 50 index with a 40% weight, the FTSE 100 index with a 20% weight, the Nikkei 225 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 finishes above the initial level, the payout at maturity will be par of $10 plus 4.23 times the gain.
If the basket falls but finishes at or above the 70% downside threshold level, the payout will be par.
If the basket falls by more than the downside threshold level, investors will lose 1% for each 1% decline from the initial level.
UBS Financial Services Inc. and J.P. Morgan Securities LLC 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 indexes: | Euro Stoxx 50 (40% weight), FTSE 100 (20% weight), Nikkei 225 index (20% weight), Swiss Market (7.5% weight), S&P/ASX 200 (7.5% weight) and Hang Seng (5% weight)
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Amount: | $12,671,660
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Maturity: | Feb. 28, 2030
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 4.23 times any basket gain; par if basket declines by downside threshold or less; 1% loss for each 1% decline from initial level if basket falls beyond downside threshold
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Initial levels: | 3,577.68 for Euro Stoxx 50, 22,426.19 for Nikkei, 7,042.47 for FTSE 100, 10,512.15 for Swiss Market, 6,708.103 for S&P/ASX 200 and 26,696.49 for Hang Seng
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Downside threshold: | 70% of initial basket level
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Pricing date: | Feb. 26
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Settlement date: | Feb. 28
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Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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Fees: | 5%
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Cusip: | 48132J389
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