Published on 2/22/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1 million dual directional accelerated barrier notes on indexes
By Kiku Steinfeld
Chicago, Feb. 22 – JPMorgan Chase Financial Co. LLC priced $1 million of 0% uncapped dual directional accelerated barrier notes due Feb. 15, 2024 linked to the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the final level of each index is greater than its initial level, the payout at maturity will be par plus 1.35 times the gain of the least-performing index.
If the final level of any index is less than or equal to its initial level but the final level of each index is greater than or equal to its barrier level, the payout will be par plus the absolute value of the return of the least-performing index.
Otherwise, investors will lose 1% for each 1% decline of the least-performing index from its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Uncapped dual directional accelerated barrier notes
|
| Underlying indexes: | S&P 500 index, Russell 2000 index and the Nasdaq-100 index
|
| Amount: | $1,000,000
|
| Maturity: | Feb. 15, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes above initial level, par plus 1.35 times gain of least-performing index; if final level of any index is less than or equal to initial level but final level of each index is greater than or equal to barrier level, par plus absolute value of return of least-performing index; otherwise, 1% loss for each 1% decline of least-performing index from initial level
|
| Initial index levels: | 3,909.88 for S&P, 13,655.27 for Nasdaq, 2,282.441 for Russell
|
| Barrier levels: | 2,932.41 for S&P, 10,241.4525 for Nasdaq, 1,711.83075 for Russell, 75% of initial levels
|
| Pricing date: | Feb. 10
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| Settlement date: | Feb. 16
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.75%
|
| Cusip: | 48132RYW4
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