Published on 7/14/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.34 million capped buffered return enhanced notes on S&P, Russell
By William Gullotti
Buffalo, N.Y., July 14 – JPMorgan Chase Financial Co. LLC priced $1.34 million of 0% capped buffered return enhanced notes due Nov. 30, 2022 linked to the performance of the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes above its initial level, the payout at maturity will be par plus 150% of the least performing index’s return, subject to a maximum upside return of par plus 12.5%.
If the final level of the least performing index falls by up to 10%, the payout will be par.
If the final level of any index is less than its initial level by more than 10%, investors will lose 1% for every 1% that the worst performing index declines beyond 10%.
The notes are guaranteed by JPMorgan Chase & Co.
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 buffered return enhanced notes
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Underlying indexes: | Dow Jones industrial average, Russell 2000 index
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Amount: | $1,338,000
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Maturity: | Nov. 30, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index finishes above initial level, par plus 150% of least performing index’s return, subject to maximum upside return of par plus 12.5%; if least performing index falls by up to 10%, par; if final level of any index is less than initial level by more than 10%, 1% loss for every 1% that worst performing index declines beyond 10%
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Initial levels: | 2,205.75 for Russell, 34,312.46 for Dow
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Buffer levels: | 90% 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: | 1.96712%
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Cusip: | 48132T5J1
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