Published on 9/1/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.48 million capped dual directional buffered notes on indexes
By Kiku Steinfeld
Chicago, Sept. 1 – JPMorgan Chase Financial Co. LLC priced $1.48 million of 0% capped dual directional buffered equity notes due Aug. 24, 2023 linked to the least performing of the Nasdaq-100 index, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the final level of each index is greater than or equal to its initial level, the payout at maturity will be par plus the least performing index’s return, capped at par plus 6%.
If the least performing index falls by up to 30.5%, the payout will be par plus the absolute value of its return.
If the final level of any index is less than its initial level by more than 30.5%, investors will lose 1% for every 1% that the least-performing index declines beyond 30.5%.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Capped dual directional buffered equity notes
|
| Underlying indexes: | Nasdaq-100, S&P 500 and Russell 2000
|
| Amount: | $1,475,000
|
| Maturity: | Aug. 24, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final level of each index is greater than or equal to initial level, par plus least performing index’s return, capped at par plus 6%; if final level of least-performing index is less than initial level by up to 30.5%, par plus absolute value of return; if final level of any index is less than initial level by more than 30.5%, 1% loss for every 1% that least-performing index declines beyond 30.5%
|
| Initial levels: | 11,555.16 for Nasdaq, 1,552.476 for Russell 2000 and 3,397.16 for S&P 500
|
| Buffer levels: | 69.5% of initial levels
|
| Pricing date: | Aug. 21
|
| Settlement date: | Aug. 26
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.95%
|
| Cusip: | 48132M4X6
|
|
|
© 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.
