Published on 1/17/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $3.02 million capped accelerated barrier notes on basket of 10 stocks
By William Gullotti
Buffalo, N.Y., Jan. 17 – JPMorgan Chase Financial Co. LLC priced $3.02 million of 0% capped accelerated barrier notes due Feb. 15, 2024 linked to an equally-weighted basket of stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The stock basket consists of PayPal Holdings, Inc., McKesson Corp., KKR & Co., Inc., Costco Wholesale Corp., Tesla, Inc., APA Corp., Target Corp., Microsoft Corp., Merck & Co., Inc. and Netflix, Inc.
If the basket finishes above its initial value, the payout at maturity will be par plus 300% of the gain, with the payout capped at par plus 23.85%.
If the basket finishes flat or declines by up to 20%, the payout will be par. Otherwise, investors will be fully exposed to the decline of the basket from its initial level.
The agent is J.P. Morgan Securities LLC.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Capped accelerated barrier notes
|
| Underlying stocks: | PayPal Holdings, Inc., McKesson Corp., KKR & Co., Inc., Costco Wholesale Corp., Tesla, Inc., APA Corp., Target Corp., Microsoft Corp., Merck & Co., Inc., Netflix, Inc.; equal weights
|
| Amount: | $3.02 million
|
| Maturity: | Feb. 15, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 300% of any basket gain, capped at par plus 23.85%; par if basket finishes flat or declines by up to 20%; otherwise, 1% loss for every 1% basket decline from initial level
|
| Initial values: | $78.54 for PayPal, $380.80 for McKesson, $52.23 for KKR, $484.31 for Costco, $123.22 for Tesla, $43.82 for APA, $158.97 for Target, $235.77 for Microsoft, $111.07 for Merck, $327.26 for Netflix
|
| Barrier value: | 80% of initial level
|
| Pricing date: | Jan. 11
|
| Settlement date: | Jan. 17
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | None
|
| Cusip: | 48133TUN3
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
