Published on 10/19/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $442,000 capped dual directional barrier notes on three indexes
By Kiku Steinfeld
Chicago, Oct. 19 – JPMorgan Chase Financial Co. LLC priced $442,000 of 0% capped dual directional barrier notes due Aug. 1, 2024 linked to the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If all indexes finish above their initial values, the payout at maturity will be par plus the gain of the least performing index, subject to a maximum payout of par plus 15%.
If any index falls but each index finishes at or above 70% of its initial level, the payout will be par plus the absolute value of the lesser performing index return.
Otherwise, investors will lose 1% for each 1% decline of the worst performing index 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 dual directional barrier notes
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| Underlying indexes: | Russell 2000 index, Dow Jones industrial average, S&P 500 index
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| Amount: | $442,000
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| Maturity: | Aug. 1, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If all indexes finish above initial levels, par plus return of worst performer capped at 15%; if any index declines but none finish below barrier level, par plus absolute value of worst performer index; otherwise, 1% loss for each 1% decline below initial level of worst performer
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| Initial index levels: | 35,058.52 for Dow, 4,401.46 for S&P, 2,191.833 for Russell
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| Barrier levels: | 24,540.964 for Dow, 3,081.022 for S&P, 1,534.2831 for Russell; 70% of initial levels
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| Pricing date: | July 27
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| Settlement date: | July 30
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3%
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| Cusip: | 48132UVW0
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