Published on 11/4/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $273,000 contingent buffered digital notes on stocks
By Wendy Van Sickle
Columbus, Ohio, Nov. 4 – JPMorgan Chase Financial Co. LLC priced $273,000 of 0% contingent buffered digital notes due Nov. 29, 2021 linked to the least performing of the shares of Constellation Brands, Inc., Coca-Cola Co. and Anheuser-Busch InBev SA/NV, according to a 424B2 filing with the Securities and Exchange Commission.
If each stock finishes at or above its initial level, the payout at maturity will be par plus the contingent digital return of 48.3%. If the least performing stock falls by up to 15%, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worst performing stock.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase Financial Co. LLC
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Contingent buffered digital notes
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Underlying stocks: | Constellation Brands, Inc., Coca-Cola Co. and Anheuser-Busch InBev SA/NV
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Amount: | $273,000
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Maturity: | Nov. 29, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each stock finishes at or above initial level, par plus 48.3%; if least performing stock falls by up to 15%, par; otherwise, 1% loss per 1% drop of worst performing stock
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Initial levels: | $179.46 for Constellation, $50.52 for Coca-Cola and $57.59 for Anheuser-Busch
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Contingent buffer: | 85% of initial levels
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Pricing date: | Oct. 26
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Settlement date: | Oct. 29
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2%
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Cusip: | 48132PRN6
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