Published on 5/13/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.2 million capped dual directional barrier notes on three indexes
By William Gullotti
Buffalo, N.Y., May 13 – JPMorgan Chase Financial Co. LLC priced $1.2 million of 0% capped dual directional barrier notes due May 16, 2023 linked to the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If all indexes finish at or above their initial levels, the payout at maturity will be par plus the gain of the least performing index, subject to a maximum payout of par plus 11.35%.
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 least 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, Nasdaq-100 index, S&P 500 index
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| Amount: | $1.2 million
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| Maturity: | May 16, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If all indexes finish at or above initial level, par plus return of worst performer capped at 11.35%; if any index declines but none finish below barrier level, par plus absolute value of worst performer’s return; otherwise, 1% loss for each 1% decline of worst performer from initial level
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| Initial index levels: | 12,345.86 for Nasdaq, 1,761.789 for Russell, 4,001.05 for S&P
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| Barrier levels: | 8,642.102 for Nasdaq, 1,233.2523 for Russell, 2,800.735 for S&P; 70% of initial levels
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| Pricing date: | May 10
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| Settlement date: | May 13
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.6%
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| Cusip: | 48133FR49
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