Published on 9/28/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.29 million capped accelerated barrier notes on two ETFs
New York, Sept. 28 – JPMorgan Chase Financial Co. LLC priced $1.29 million of 0% capped accelerated barrier notes due Sept. 25, 2026 linked to the Invesco QQQ Trust, Series 1 and the Technology Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing ETF gains, the payout at maturity will be par plus 132.03% of the return of that ETF, capped at par plus 75%.
The payout will be par if the worst performing ETF declines but finishes at or above its 75% barrier. Otherwise, investors will lose 1% for every 1% that the worst performing ETF declines from initial level.
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.
|
| Issue: | Capped accelerated barrier notes
|
| Underlying ETFs: | Invesco QQQ Trust, Series 1 and Technology Select Sector SPDR Fund
|
| Amount: | $1,292,000
|
| Maturity: | Sept. 25, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If worst performing ETF gains, par plus 132.03% of that ETF’s return, capped at par plus 75%; par if worst performing ETF declines but finishes at or above its downside barrier; otherwise, 1% loss for every 1% that worst performing ETF declines from initial level
|
| Initial levels: | $357.91 for Invesco QQQ Trust, Series 1, $164.41 for Technology Select Sector SPDR Fund
|
| Upside leverage: | 132.03%
|
| Cap: | 75%
|
| Barriers: | $268.4325 for Invesco QQQ Trust, Series 1, $123.3075 for Technology Select Sector SPDR Fund, 75% of initial levels
|
| Pricing date: | Sept. 22
|
| Settlement date: | Sept. 27
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.75%
|
| Cusip: | 48134A2K0
|
|
|
© 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.
