Published on 7/7/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.39 million uncapped dual directional buffered equity notes on stocks
By Sarah Lizee
Olympia, Wash., July 7 – JPMorgan Chase Financial Co. LLC priced $1.39 million of 0% uncapped dual directional buffered equity notes due June 30, 2022 linked to the least performing of the common stocks of Facebook, Inc., Amazon.com, Inc., Netflix, Inc. and Alphabet Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If each stock finishes above its initial level, the payout at maturity will be par plus the least performing stock’s return, subject to a contingent minimum return of 25.25%.
If the least performing stock falls by up to 15%, the payout will be par plus the absolute value of the least performing stock’s return.
Investors will lose 1% for every 1% that the least performing stock declines beyond 15%.
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 buffered equity notes
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| Underlying stocks: | Facebook, Inc., Amazon.com, Inc., Netflix, Inc. and Alphabet Inc.
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| Amount: | $1,387,000
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| Maturity: | June 30, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each stock finishes above initial level, par plus least performing stock’s return, subject to a contingent minimum return of 25.25%; if least performing stock falls by up to 15%, par plus absolute value of least performing stock’s return; 1% loss for every 1% that least performing stock falls beyond 15%
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| Initial levels: | $216.08 for Facebook, $2,692.87 for Amazon, $443.40 for Netflix, $1,362.54 for Alphabet
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| Buffer levels: | 85% of initial levels
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| Pricing date: | June 26
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| Settlement date: | June 30
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.35%
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| Cusip: | 48132MC25
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