Published on 10/21/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $6.49 million trigger gears on S&P, Russell
By William Gullotti
Buffalo, N.Y., Oct. 21 – JPMorgan Chase Financial Co. LLC priced $6.49 million of 0% trigger gears due Oct. 20, 2026 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the index return is positive, the payout at maturity will be par plus 1.355 times the least performing index gain.
If the least performing index finishes at or below the initial level but at or above the downside threshold, 75% of the initial level, the payout will be par.
Otherwise, investors will be fully exposed to the least performing index decline.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
Issuer: | JPMorgan Chase Financial Co. LLC
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Trigger gears
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Underlying indexes: | S&P 500 index, Russell 2000 index
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Amount: | $6,491,400
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Maturity: | Oct. 20, 2026
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 1.355 times the least performing index gain; par if least performing index finishes flat or falls by up to 25%; otherwise, full exposure to least performing index decline from its initial level
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Initial index level: | 4,471.37 for S&P, 2,265.654 for Russell
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Downside threshold levels: | 3,353.53 for S&P, 1,699.241 for Russell; 75% of initial levels
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Pricing date: | Oct. 15
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Settlement date: | Oct. 20
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Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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Fees: | 3.5%
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Cusip: | 46652Y372
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