Published on 4/6/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1 million contingent digital buffered notes on S&P
By Kiku Steinfeld
Chicago, April 6 – JPMorgan Chase Financial Co. LLC priced $1 million of 0% contingent digital buffered notes due March 31, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the index gains, finishes flat or falls by up to 10%, payout at maturity will be par plus 15.07%. Otherwise, investors will lose 1.11111% for every 1% index decline beyond 10%.
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: | Contingent digital buffered notes
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Underlying index: | S&P 500 index
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Amount: | $1,000,000
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Maturity: | March 31, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 15.07% unless index falls by more than 10%, in which case 1.11111% loss for every 1% decline beyond 10%
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Initial strike level: | 2711.02
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Final level: | Average of index closing levels for five trading days ending March 26, 2021
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Buffer level: | 90% of initial level
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Strike date: | March 13
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Pricing date: | March 16
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Settlement date: | March 19
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 48132KLD5
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