Published on 4/27/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.03 million dual directional accelerated barrier notes on indexes
By Kiku Steinfeld
Chicago, April 27 – JPMorgan Chase Financial Co. LLC priced $1.03 million of 0% uncapped dual directional accelerated barrier notes Oct. 1, 2026 linked to the S&P 500 index, the Nasdaq-100 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.
The payout at maturity will be par plus 1.28 times the gain of the worst performer if each index finishes above their initial levels.
If any index falls but each index finishes at or above 70% of its initial level, the payout will be par plus 50% of the absolute value of the lesser performing index return.
If any index falls below 70% but each index finishes at or above 60% of its initial level, the payout will be par.
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: | Uncapped dual directional accelerated barrier notes
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| Underlying indexes: | Nasdaq-100 index, Dow Jones industrial average, S&P 500 index
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| Amount: | $1.03 million
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| Maturity: | Oct. 1, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If all indexes gain, par plus 1.28 times return of worst performer; if any index falls but each index finishes at or above 70% of initial level, par plus 50% of absolute value of lowest return; if any index falls below 70% but each index finishes at or above 60% of its initial level, par; otherwise, 1% loss for each 1% decline of worst performer from initial level
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| Initial levels: | 14,770.30 for Nasdaq, 34,299.99 for Dow, 4,352.63 for S&P
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| Absolute return barriers: | 10,339.21 for Nasdaq, 24,009.993 for Dow, 3,046.841 for S&P; 70% of initial levels
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| Barrier levels: | 8,862.18 for Nasdaq, 20,579.994 for Dow, 2,611.578 for S&P; 60% of initial levels
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| Pricing date: | Sept. 28, 2021
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| Settlement date: | Oct. 1, 2021
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.4%
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| Cusip: | 48132WZH5
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