Published on 10/11/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.08 million capped dual directional buffered equity notes on indexes
Chicago, Oct. 12 – JPMorgan Chase Financial Co. LLC priced $1.08 million of 0% capped dual directional buffered equity notes due Sept. 28, 2023 linked to the lesser performing of 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.
If each index finishes above its initial level, the payout at maturity will be par plus the least-performing index’s return, subject to a maximum upside return of 39.5%.
If the lowest performer declines, but not more than 20%, 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 20%, investors will lose 1% for every 1% that the lesser-performing index declines beyond 20%.
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: | Russell 2000, S&P 500 and Nasdaq-100
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| Amount: | $1,075,000
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| Maturity: | Sept. 28, 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 its initial level, par plus the least-performing index’s return, subject to a cap of 39.5%; if the final level of worst performer declines but not more than 20%, par plus the absolute value of the lesser-performing index’s return; if either index is less than its initial level by more than 20%, 1% loss for every 1% that the lesser-performing index declines beyond 20%
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| Initial levels: | 3,298.46 for S&P 500, 1,474.908 for Russell 2000 and 11,151.13 for Nasdaq-100
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| Buffer levels: | 80% of initial levels
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| Pricing date: | Sept. 25
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| Settlement date: | Sept. 30
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.5%
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| Cusip: | 48132PEA8
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