Published on 9/22/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $2.02 million capped dual directional buffered return enhanced notes on indexes
By Kiku Steinfeld
Chicago, Sept. 22 – JPMorgan Chase Financial Co. LLC priced $2.02 million of 0% capped dual directional buffered return enhanced notes due July 5, 2024 linked to the least performing of the Dow Jones industrial average, the Russell 2000 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 1.05 times the least-performing index’s return, subject to a maximum upside return of 35%.
If the final level of the least-performing index is flat or falls by up to 20%, the payout will be par plus 50% of the absolute value of the least-performing index’s return.
If the final level of any index is less than its initial level by more than 20%, investors will lose 1% for every 1% that the least-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: | Dow Jones industrial average, Russell 2000 index, Nasdaq-100 index
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| Amount: | $2,015,000
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| Maturity: | July 5, 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 1.05 times least-performing index’s return, subject to maximum upside return of 35%; if final level of least-performing index is equal to initial level or is less than initial level by up to 20%, par plus 50% of absolute value of least-performing index’s return; otherwise, 1% loss for every 1% that least-performing index declines beyond 20%
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| Initial index levels: | 34,502.51 for Dow, 2,310.549 for Russell, 14,554.80 for Nasdaq
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| Buffer levels: | 80% of initial levels
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| Pricing date: | June 30
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| Settlement date: | July 6
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.8098%
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| Cusip: | 48132UTT0
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