Published on 8/2/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $10.84 million trigger gears linked a weighted five-index basket
By Wendy Van Sickle
Columbus, Ohio, Aug. 2 – JPMorgan Chase Financial Co. LLC priced $10.84 million of 0% trigger gears due July 31, 2028 linked to a 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 Nikkei 225 index with a 25% weight, the FTSE 100 index with a 17.5% weight, the Swiss Market index with a 10% weight and the S&P/ASX 200 index with a 7.5% weight.
The payout at maturity will be par of $10 plus 2.15 times any index gain.
Investors will receive par if the basket falls by up to 25% and will be fully exposed to any basket decline beyond 25%.
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 basket: | Euro Stoxx 50 index (40% weight), Nikkei 225 index (25% weight), FTSE 100 index (17.5% weight), Swiss Market index (10% weight), S&P/ASX 200 index (7.5% weight)
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Amount: | $10,844,190
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Maturity: | July 31, 2028
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 2.15 times any basket gain; par if basket falls by up to 25%; otherwise, full exposure to loss
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Initial levels: | 4,447.44 for Stoxx, 32,891.16 for Nikkei, 7,692.76 for FTSE, 11,373.21 for Swiss Market, 7,455.917 for S&P/ASX
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Pricing date: | July 27
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Settlement date: | July 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: | 48131C369
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