Published on 6/15/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1 million uncapped dual directional barrier notes on ETFs
By Kiku Steinfeld
Chicago, June 15 – JPMorgan Chase Financial Co. LLC priced $1 million of 0% uncapped dual directional barrier notes due Dec. 2, 2026 linked to the lesser performing of the SPDR S&P 500 ETF Trust, the iShares Russell 2000 ETF and the Invesco QQQ Trust, Series 1, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If each asset finishes above its initial level, the payout at maturity will be par plus the return of the worst performing asset.
If any asset finishes flat or falls by no more than the 53.5% barrier level, the payout will be par plus the absolute value of the lesser-performing asset’s return.
Otherwise, investors will be fully exposed to the decline of the worst performing asset.
The agent is J.P. Morgan Securities LLC.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Uncapped dual directional barrier notes
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| Underlying assets: | SPDR S&P 500 ETF Trust, iShares Russell 2000 ETF and Invesco QQQ Trust, Series 1
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| Amount: | $1 million
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| Maturity: | Dec. 2, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each asset finishes above its initial level, par plus the return of worst performing asset; if any asset finishes flat or falls by no more than barrier level, par plus absolute value of the lesser-performing asset’s return; otherwise, investors will be fully exposed to decline of worst performing asset
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| Initial levels: | $458.97 for S&P, $222.85 for Russell, $391.20 for Invesco
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| Barrier levels: | $245.54895 for S&P, $119.22475 for Russell, $209.292 for Invesco, 53.5% of initial levels
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| Pricing date: | Nov. 26, 2021
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| Settlement date: | Dec. 1, 2021
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.4%
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| Cusip: | 48132YXN0
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