Published on 1/21/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $500,000 dual directional buffered return enhanced notes on indexes
By Kiku Steinfeld
Chicago, Jan. 21 – JPMorgan Chase Financial Co. LLC priced $500,000 of 0% capped dual directional buffered return enhanced notes due Jan. 19, 2024 linked to the lesser performing of the Nasdaq-100 index, the Dow Jones industrial average and the Russell 2000 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 1.47 times the lesser-performing index’s return, subject to a maximum upside return of 35%.
If the final level of the least performing index falls by up to 20%, the payout will be par plus 50% of the absolute value of that 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 return enhanced notes
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Underlying indexes: | Nasdaq-100, Dow Jones industrial average, Russell 2000
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Amount: | $500,000
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Maturity: | Jan. 19, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index finishes above initial level, par plus 1.47 times lesser-performing index’s return, subject to maximum upside return of 35%; if least performing index falls by up to 20%, par plus 50% of absolute value of lesser-performing index’s return; if final level of either index is less than initial level by more than 20%, 1% loss for every 1% that lesser-performing index declines beyond 20%
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Initial index levels: | 31,060.47 for Dow, 12,973.63 for Nasdaq and 2,111.966 for Russell
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Buffer levels: | 80% of initial levels
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Pricing date: | Jan. 13
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Settlement date: | Jan. 19
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.45%
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Cusip: | 48132RHN3
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