Published on 5/14/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $5.83 million digital notes on financial, bank ETFs
By Kiku Steinfeld
Chicago, May 14 – JPMorgan Chase Financial Co. LLC priced $5.83 million of 0% digital notes due April 26, 2024 linked to the lesser performing of the Financial Select Sector SPDR fund and the SPDR S&P Bank ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If each ETF finishes at or above its initial level, the payout at maturity will be par plus the digital return of 50%.
Otherwise, investors will receive par plus the return of the lesser performing fund.
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: | Digital notes
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Underlying ETFs: | Financial Select Sector SPDR fund and SPDR S&P Bank ETF
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Amount: | $5,834,000
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Maturity: | April 26, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each fund finishes at above its initial level, par plus 50%; otherwise, par plus return of lesser-performing fund
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Initial levels: | $53.03 for Bank, $35.38 for Financial
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Pricing date: | April 23
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Settlement date: | April 28
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1.5%
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Cusip: | 48132TSM9
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