Published on 7/9/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $767,000 capped dual directional barrier notes on three indexes
By William Gullotti
Buffalo, N.Y., July 9 – JPMorgan Chase Financial Co. LLC priced $767,000 of 0% capped dual directional barrier notes due Nov. 30, 2023 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 at or 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: | $767,000
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Maturity: | Nov. 30, 2023
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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 level, 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: | 34,312.46 for Dow, 2,205.75 for Russell, 4,188.13 for S&P
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Barrier levels: | 24,018.722 for Dow, 1,544.025 for Russell, 2,931.691 for S&P; 70% of initial levels
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Pricing date: | May 25
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Settlement date: | May 28
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.5%
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Cusip: | 48132T3Z7
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