JPM -PW24 BYD Co Ltd-H Warrant is a European-style put derivative warrant issued by J.P. Morgan Structured Products B.V., linked to the underlying shares of BYD Company (stock code 01211). It provides investors with leveraged exposure to potential declines in BYD Company's share price, settling in cash upon expiry. Key features include a strike price of HKD 99.95, an entitlement ratio of 50 warrants per underlying share, and a maturity date of April 22, 2026. Launched on August 26, 2025, at an initial issue price of HKD 0.150, it has a total issue size of 100,000,000 warrants and trades in board lots of 2,500 units with HKD as the trading currency. As a standard warrant, it carries no basket structure and relies on J.P. Morgan Broking (Hong Kong) Limited as the liquidity provider. This instrument plays a role in the structured products market by enabling targeted bearish strategies on BYD Company, a prominent player in the electric vehicle and new energy sectors, while reflecting market views on implied volatility around 40.21% and delta at -0.52%.
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