Published on 2/19/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $946,000 capped dual directional buffered equity notes on Dow, S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Feb. 19 – JPMorgan Chase Financial Co. LLC priced $946,000 of 0% capped dual directional buffered equity notes due March 14, 2022 linked to the least performing of the Russell 2000 index, the Dow Jones industrial average 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 the least-performing index’s return, subject to a maximum upside return of par plus 1%.
If the final level of the least performing index falls by up to 20%, the payout will be par plus the absolute value of that index’s return.
If the final level of either index is less than its initial level by more than 20%, investors will lose 1% for every 1% that the least-performing index declines beyond 20%.
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: | Capped dual directional buffered equity notes
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| Underlying indexes: | Russell 2000 index, Dow Jones industrial average and S&P 500 index
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| Amount: | $946,000
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| Maturity: | March 14, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes above initial level, par plus least-performing index’s return, subject to maximum upside return of par plus 1%; if least performing index falls by up to 20%, par plus absolute value of least-performing index’s return; if final level of either index is less than initial level by more than 20%, 1% loss for every 1% that least-performing index declines beyond 20%
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| Initial levels: | 2,298.998 for Russell, 31,375.83 for Dow and 3,911.23 for S&P
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| Pricing date: | Feb. 9
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| Settlement date: | Feb. 12
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.225%
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| Cusip: | 48132RXG0
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