Published on 6/6/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.24 million uncapped dual directional digital barrier notes on indexes
By Kiku Steinfeld
Chicago, June 6 – JPMorgan Chase Financial Co. LLC priced $1.24 million of 0% uncapped dual directional digital barrier notes due Nov. 19, 2026 linked to the worst performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If each index’s final level is greater than its initial level, the payout at maturity will be par plus the least performing index’s return, subject to a 30%contingent minimum return.
If the least performing index falls by no more than 30% of its initial level, the payout at maturity will be par plus the absolute value of the return of that index.
Otherwise, investors will lose 1% for each 1% decline of the least 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 digital barrier notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index and the Nasdaq-100 index
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| Amount: | $1,235,000
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| Maturity: | Nov. 19, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus any gain in least performing index, subject to a 30% contingent minimum return; if the least performing index’s final level is less than initial level but greater than or equal to final barrier level, par plus the absolute value of that index’s return; otherwise, 1% loss for every 1% that the worst performer declines from initial level
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| Initial levels: | 16,309.77 for Nasdaq, 4,700.90 for S&P, 2,405.024 for Russell
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| Barrier levels: | 11,416.839 for Nasdaq, 3,290.63 for S&P, 1,683.5168 for Russell, 70% of initial levels
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| Pricing date: | Nov. 16, 2021
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| Settlement date: | Nov. 19, 2021
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 4.125%
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| Cusip: | 48132YVB8
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