Published on 8/20/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $555,000 dual directional buffered equity notes on Dow, Nasdaq, Russell
By Kiku Steinfeld
Chicago, Aug. 20 – JPMorgan Chase Financial Co. LLC priced $555,000 of 0% capped dual directional buffered equity notes due Feb. 2, 2023 linked to the least performing of the Russell 2000 index, the Dow Jones industrial average 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 par plus 25%.
If the final level of the least performing index falls by up to 15%, 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 15%, investors will lose 1% for every 1% that the least-performing index declines beyond 15%.
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 index, Dow Jones industrial average and Nasdaq-100 index
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| Amount: | $555,000
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| Maturity: | Feb. 2, 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 initial level, par plus least-performing index’s return, subject to maximum upside return of par plus 25%; if least performing index falls by up to 15%, par plus 50% of absolute value of least-performing index’s return; if final level of either index is less than initial level by more than 15%, 1% loss for every 1% that least-performing index declines beyond 15%
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| Initial levels: | 14,959.90 for Nasdaq, 2,226.246 for Russell, 34,935.47 for Dow
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| Pricing date: | July 30
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| Settlement date: | Aug. 4
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.35%
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| Cusip: | 48132UE33
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