Published on 3/10/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $281,000 uncapped buffered return enhanced notes on index, ETF
By Kiku Steinfeld
Chicago, March 11 – JPMorgan Chase Financial Co. LLC priced $281,000 of 0% uncapped buffered return enhanced notes due Jan. 3, 2025 linked to the Russell 2000 index and SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing asset gains the payout at maturity will be par plus 113.1% of the return of the worst performing asset. The payout will be par if the worst performing asset declines but by no more than the 20% buffer. Investors will lose 1% for every 1% that the worst performing asset declines 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
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Uncapped buffered return enhanced notes
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Underlying assets: | Russell 2000 index and SPDR S&P 500 ETF Trust
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Amount: | $281,000
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Maturity: | Jan. 3, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If worst performing asset gains par plus 113.1% of worst performing asset return; par if worst performing asset declines but by no more than 20% buffer; 1% loss for every 1% that worst performing asset declines beyond the buffer
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Initial levels: | 1,858.709 for Russell 2000, $436.39 for SPDR S&P 500
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Upside leverage: | 113.1%
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Cap: | None
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Buffer: | 20%
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Pricing date: | June 28, 2023
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Settlement date: | July 3, 2023
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.25%
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Cusip: | 48133XK70
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