Published on 5/28/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $8.41 million trigger gears linked to S&P 500
By Sarah Lizee
Olympia, Wash., May 28 – JPMorgan Chase Financial Co. LLC priced $8.41 million of 0% trigger gears due May 30, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is greater than zero, the payout at maturity will be par of $10 plus 1.2 times the index return. Investors will receive par if the index declines by 25% or less and have one-to-one exposure to the index’s decline from its initial level if it declines by more than 25%.
The notes are guaranteed by JPMorgan Chase & Co.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
Issuer: | JPMorgan Chase Financial Co. LLC
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Trigger gears
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Underlying index: | S&P 500
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Amount: | $8,407,150
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Maturity: | May 30, 2025
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If index return is greater than zero, par plus 1.2 times index return; par if index declines by downside threshold or less; full exposure to index’s decline from initial level if index declines by more than downside threshold
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Initial level: | 2,991.77
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Downside threshold: | 2,243.83, or 75% of initial level
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Pricing date: | May 26
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Settlement date: | May 29
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Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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Fees: | 3.5%
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Cusip: | 48132L822
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