Published on 8/30/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $500,000 capped dual directional buffered equity notes on S&P, Nasdaq
By Wendy Van Sickle
Chicago, Aug. 30 – JPMorgan Chase Financial Co. LLC priced $500,000 of 0% capped dual directional buffered equity notes due June 26, 2023 linked to the lesser performing of the S&P 500 index and the Nasdaq-100 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 lesser-performing index’s return, subject to a maximum upside return of 13.55%.
If the final level of the lesser-performing is flat or falls by up to 15%, the payout will be par plus the absolute value of the lesser-performing index’s return.
If the final level of either index is less than its initial level by more than 15%, investors will lose 1% for every 1% that the lesser-performing index 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: | Capped dual directional buffered equity notes
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| Underlying indexes: | S&P 500 index, Nasdaq-100 index
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| Amount: | $500,000
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| Maturity: | June 26, 2023
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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 lesser-performing index’s return, subject to maximum upside return of 13.55%; if final level of lesser-performing index is equal to initial level or is less than initial level by up to 15%, par plus absolute value of lesser-performing index’s return; otherwise, 1% loss for every 1% that lesser-performing index declines beyond 15%
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| Initial levels: | 4,224.79 for S&P, 14,137.23 for Nasdaq
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| Buffer level: | 85% of initial levels
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| Pricing date: | June 21
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| Settlement date: | June 24
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.35%
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| Cusip: | 48132UQW6
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