By Sarah Lizee
Olympia, Wash., Dec. 23 – JPMorgan Chase & Co. priced $1.18 million of 0% dual directional trigger Performance Leveraged Upside Securities due June 3, 2022 linked to Apple Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
If Apple shares finish at or above the initial level, the payout at maturity will be par of $10 plus 1.5 times the stock return, up to a maximum payout of 33.5%.
If the stock falls by up to the 80% trigger level, the payout will be par plus the absolute value of the stock return.
Otherwise, investors will lose 1% for each 1% decline of the stock.
J.P. Morgan Securities LLC is the agent. Morgan Stanley Wealth Management is handling distribution.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Dual directional Trigger Performance Leveraged Upside Securities
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| Underlying stock: | Apple Inc. (Symbol: AAPL)
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| Amount: | $1,179,260
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| Maturity: | June 3, 2022
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If stock gains, par plus 150% of return, capped at 33.5%; if stock falls by up to trigger level, par plus absolute value of return; otherwise, 1% loss for each 1% decline of the stock
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| Initial level: | $267.25
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| Trigger level: | $213.80, 80% of initial level
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| Pricing date: | Nov. 29
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| Settlement date: | Dec. 4
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3%
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| Cusip: | 48132J603
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