Published on 6/13/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $3.27 million uncapped dual directional buffered return enhanced notes
By William Gullotti
Buffalo, N.Y., June 13 – JPMorgan Chase Financial Co. LLC priced $3.27 million of 0% uncapped dual directional buffered return enhanced notes due June 5, 2025 linked to the Russell 2000 index, the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If each index finishes at or above its initial level, the payout at maturity will be par plus 1.025 times the return of the least performing index.
If the worst performer declines but finishes at or above 80% of initial level, the payout will be par plus the absolute value of that index’s return.
Otherwise, investors will lose 1% for every 1% decline of the worst performer below 20%.
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 return enhanced notes
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Underlying indexes: | S&P 500 index, Nasdaq-100 index, Russell 2000 index
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Amount: | $3.27 million
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Maturity: | June 5, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index gains, par plus 1.025 times the return of the worst performer; if worst performer declines up to 20%, par plus absolute value of return of that index; otherwise, 1% loss for every 1% decline of worst performer below 20%
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Initial levels: | 4,282.37 for S&P, 14,546.64 for Nasdaq, 1,830.906 for Russell
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Pricing date: | June 2
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Settlement date: | June 7
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.65%
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Cusip: | 48133WQY7
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