Published on 12/28/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $260,000 uncapped barrier notes on S&P, Russell, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, Dec. 30 – JPMorgan Chase Financial Co. LLC priced $260,000 of 0% uncapped barrier equity notes due Dec. 23, 2025 linked to the least performing of the Nasdaq-100 index, the S&P 500 index and the Russell 2000 index, according to a 423B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the final level of each index is greater than or equal to its initial level, the payout at maturity will be par plus the least performing index’s return, with a floor of par plus 38.5%.
If the least performing index falls by up to 30%, the payout will be par.
If the final level of any index is less than its initial level by more than 70%, investors will lose 1% for every 1% that the least-performing index declines.
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 barrier equity notes
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| Underlying indexes: | Nasdaq-100, S&P 500 and Russell 2000
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| Amount: | $260,000
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| Maturity: | Dec. 23, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final level of each index is greater than or equal to initial level, par plus least performing index’s return, with floor of par plus 38.5%; if final level of least-performing index is less than initial level by up to 30%, par; if final level of any index is less than initial level by more than 30%, 1% loss for every 1% that least-performing index declines
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| Initial levels: | 12,738.18 for Nasdaq, 1,969.986 for Russell and 3,709.41 for S&P
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| Barrier levels: | 8,916.726 for Nasdaq, 1,378.9902 for Russell and 2,596.587 for S&P, 70% of initial levels
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| Pricing date: | Dec. 18
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| Settlement date: | Dec. 23
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.85%
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| Cusip: | 48132PX66
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