Published on 8/14/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $11.76 million contingent digital buffered notes on QQQ
Chicago, Aug. 14 – JPMorgan Chase Financial Co. LLC priced $11.76 million of 0% contingent digital buffered notes due Aug. 12, 2024 linked to the Invesco QQQ Trust, series 1, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF gains or falls by no more than its 20% buffer, the payout at maturity will be par plus 8.45%. The payout will be par less 125% of the ETF decline beyond the 20% buffer.
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 digital buffered notes
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Underlying ETF: | Invesco QQQ Trust, series 1
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Amount: | $11,757,000
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Maturity: | Aug. 12, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If ETF gains or declines but by no more than 20% buffer, par plus 8.45%; 125% of ETF decline beyond the buffer
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Initial level: | $377.52
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Buffer level: | 80% of initial level
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Downside leverage: | 125%
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Pricing date: | July 26
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Settlement date: | July 31
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 48133X3S3
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