Published on 7/31/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $801,000 dual directional contingent buffered notes on Dow, Russell, S&P
By Sarah Lizee
Olympia, Wash., July 31 – JPMorgan Chase Financial Co. LLC priced $801,000 of 0% uncapped dual directional contingent buffered equity notes due July 31, 2025 tied to the least performing of the Dow Jones industrial average, the Russell 2000 index and the S&P 500 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 1.1 times the least performing index return.
If any index falls but by no more than the 30% contingent buffer, the payout will be par plus the absolute value of the return of the least-performing index.
If any index falls by more than 30%, investors will lose 1% for each 1% decline of the least-performing index.
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 contingent buffered equity notes
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Underlying indexes: | Dow Jones industrial average, Russell 2000 and S&P 500
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Amount: | $801,000
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Maturity: | July 31, 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 1.1 times the least performing index return; if any index falls by up to 30%, par plus absolute value of return of least-performing index; otherwise, investors will lose 1% for each 1% decline of the least-performing index
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Initial levels: | 3,218.44 for S&P, 1,469.755 for Russell and 26,379.28 for Dow
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Buffer levels: | 70% of initial levels
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Pricing date: | July 28
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Settlement date: | July 31
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Agent: | J.P. Morgan Securities LLC
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Fees: | 4.135%
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Cusip: | 48132MPJ4
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