Published on 8/20/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $11.68 million buffered return enhanced notes on index basket
By Wendy Van Sickle
Columbus, Ohio, Aug. 20 – JPMorgan Chase Financial Co. LLC priced $11.68 million of 0% buffered return enhanced notes due Feb. 22, 2023 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of equal weights of the MSCI EAFE index, the MSCI Emerging Markets index and the S&P Global Infrastructure index.
The payout at maturity will be par plus 2.04 times any gain in the basket, based on its average return on Nov. 18, Feb. 18, 2020, May 18, 2020, Aug. 17, 2020, Nov. 16, 2020, Feb. 16, 2021, May 17, 2021, Aug. 16, 2021, Nov. 16, 2021, Feb. 16, 2022, May 16, 2022, Aug. 16, 2022, Nov. 16, 2022 and Feb. 16, 2023.
Investors will receive par if the basket falls by up to 25% and will lose 1.33333% for each 1% decline beyond the buffer.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Buffered return enhanced notes
|
| Basket components: | MSCI EAFE index, MSCI Emerging Markets index and S&P Global Infrastructure index, equal weights
|
| Amount: | $11,675,000
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| Maturity: | Feb. 22, 2023
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 2.04 times any basket gain based on average return on averaging dates; if basket falls by up to 25%, par; otherwise, 1.33333% loss for each 1% decline beyond 25%
|
| Averaging dates: | Nov. 18, Feb. 18, 2020, May 18, 2020, Aug. 17, 2020, Nov. 16, 2020, Feb. 16, 2021, May 17, 2021, Aug. 16, 2021, Nov. 16, 2021, Feb. 16, 2022, May 16, 2022, Aug. 16, 2022, Nov. 16, 2022 and Feb. 16, 2023
|
| Pricing date: | Aug. 16
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| Settlement date: | Aug. 21
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | None
|
| Cusip: | 48130UPR2
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