Published on 7/21/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $500,000 capped barrier notes on Dow, Russell, Nasdaq
By William Gullotti
Buffalo, N.Y., July 21 – JPMorgan Chase Financial Co. LLC priced $500,000 of 0% capped barrier equity notes due March 31, 2022 linked to the least performing of the Nasdaq-100 index, the Dow Jones industrial average 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, subject to a maximum gain of par plus 10%.
If the least performing index falls by up to 32%, the payout will be par. Otherwise, investors will lose 1% for every 1% that the least-performing index declines from its initial level.
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 barrier equity notes
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| Underlying indexes: | Nasdaq-100 index, Dow Jones industrial average, Russell 2000 index
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| Amount: | $500,000
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| Maturity: | March 31, 2022
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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, capped at par plus 10%; if final level of least-performing index is less than initial level by up to 32%, par; otherwise, 1% loss for every 1% that least-performing index declines from its initial level
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| Initial levels: | 13,657.85 for Nasdaq, 2,273.073 for Russell, 34,464.64 for Dow
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| Barrier levels: | 9,287.338 for Nasdaq, 1,545.68964 for Russell, 23,435.9552 for Dow; 68% of initial levels
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| Pricing date: | May 27
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| Settlement date: | June 2
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.35%
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| Cusip: | 48132UEB5
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