Published on 4/7/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $3.03 million of trigger gears linked to index basket
By Wendy Van Sickle
Columbus, Ohio, April 7 – JPMorgan Chase Financial Co. LLC priced $3.03 million of 0% trigger gears due March 31, 2025 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 1.281 times the gain.
If the basket falls but finishes at or above the 75% 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: | $3,025,800
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| Maturity: | March 31, 2025
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Par plus 1.281 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: | 2,728.65 for Euro Stoxx 50, 19,389.43 for Nikkei, 5,510.33 for FTSE 100, 8,996.37 for Swiss Market, 4,842.428 for S&P/ASX 200 and 23,484.28 for Hang Seng
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| Downside threshold: | 75% of initial basket level
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| Pricing date: | March 27
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| Settlement date: | March 31
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| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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| Fees: | 3.5%
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| Cusip: | 48132J140
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