Published on 10/25/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.47 million uncapped dual directional buffered notes on indexes
By Taylor Fox
New York, Oct. 26 – JPMorgan Chase Financial Co. LLC priced $1.47 million of 0% uncapped dual directional contingent buffered return equity notes due Sept. 25, 2025 tied to the least performing of the Dow Jones industrial average, the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes above its initial level, the payout at maturity will be par plus least performing index return.
If any index falls but by no more than the 60% contingent buffer, the payout will be par plus the absolute value of the return of the least-performing index.
If any index falls by more than 40%, investors will lose 1% for each 1% decline of the least-performing index.
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 dual directional contingent buffered equity notes
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Underlying indexes: | Dow Jones industrial average, Nasdaq-100 index and S&P 500
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Amount: | $1,471,000
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Maturity: | Sept. 25, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index gains, par plus the least performing index return; if any index falls by up to 40%, par plus absolute value of return of least-performing index; otherwise, investors will lose 1% for each 1% decline of the least-performing index
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Initial levels: | 3,281.06 for S&P, 10,980.22 for Nasdaq and 27,147.7 for Dow
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Buffer levels: | 60% of initial levels
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Pricing date: | Sept. 21
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Settlement date: | Sept. 24
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.5%
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Cusip: | 48132PCW2
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