Published on 10/2/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.12 million capped dual directional buffered equity notes on Nasdaq, S&P
By Kiku Steinfeld
Chicago, Oct. 2 – JPMorgan Chase Financial Co. LLC priced $1.12 million of 0% capped dual directional buffered equity notes due Sept. 29, 2022 linked to the lesser performing of the S&P 500 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 the lesser-performing index’s return, subject to a maximum upside return of 20%.
If the lowest performer declines, but not more than 10%, the payout will be par plus the absolute value of the lesser-performing index’s return.
If the final level of either index is less than its initial level by more than 10%, investors will lose 1% for every 1% that the lesser-performing index declines beyond 10%.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Capped dual directional buffered equity notes
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| Underlying indexes: | S&P 500 and Nasdaq-100
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| Amount: | $1,116,000
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| Maturity: | Sept. 29, 2022
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If each index finishes above its initial level, par plus the lesser-performing index’s return, subject to a cap of 20%; if the final level of worst performer declines but not more than 10%, par plus the absolute value of the lesser-performing index’s return; if either index is less than its initial level by more than 10%, 1% loss for every 1% that the lesser-performing index declines beyond 10%
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| Initial levels: | 3,298.46 for S&P, $1,116,000 for Nasdaq
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| Buffer levels: | 90% of initial levels
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| Pricing date: | Sept. 25
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| Settlement date: | Sept. 30
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.34722%
|
| Cusip: | 48132MQ61
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