Published on 2/25/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.91 million capped return enhanced notes on stock basket
Chicago, Feb. 25 – JPMorgan Chase Financial Co. LLC priced $2.91 million of 0% capped return enhanced notes due Feb. 5, 2021 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 stocks included in the basket are Cisco Systems, Inc., Chevron Corp., Dow Inc., International Business Machines Corp., Coca-Cola Co., 3M Co., Pfizer Inc., Verizon Communications Inc., Walgreens Boots Alliance, Inc. and Exxon Mobil Corp.
If the basket return is positive, the payout at maturity will be par plus 1.5 times the basket gain, subject to a maximum return of 13.65%. If the basket declines up to 5%, the payout will be par.
Otherwise, investors will be exposed to losses beyond the 5% buffer.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Capped return enhanced notes
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| Basket components: | Cisco Systems, Inc., Chevron Corp., Dow Inc., International Business Machines Corp., Coca-Cola Co., 3M Co., Pfizer Inc., Verizon Communications Inc., Walgreens Boots Alliance, Inc. and Exxon Mobil Corp.; equally weighted
|
| Amount: | $2,910,000
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| Maturity: | Feb. 5, 2021
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If basket return is positive, par plus 1.5 times gain, return capped at 13.65%; par if basket declines up to 5%; exposure to losses beyond the 5% buffer
|
| Initial levels: | $47.24 for Cisco, $111.40 for Chevron, $48.47 for Dow, $136.77 for IBM, $58.86 for Coca-Cola, $162.51 for 3M, $37.07 for Pfizer, $59.3 for Verizon, $51.95 for Walgreens and $64.79 for Exxon
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| Buffer level: | 95% of initial level
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| Pricing date: | Jan. 30
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| Settlement date: | Feb. 4
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | None
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| Cusip: | 48132HUF7
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