Published on 7/6/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $3.7 million capped dual directional buffered return enhanced notes
By William Gullotti
Buffalo, N.Y., July 6 – JPMorgan Chase Financial Co. LLC priced $3.7 million of 0% capped dual directional buffered return enhanced notes due Aug. 1, 2024 linked to an equally-weighted index basket composed of the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
If the basket finishes at or above its initial level, the payout at maturity will be par plus 1.15 times the basket’s return, subject to a maximum upside return of par plus 10%.
If the final level of the basket falls by up to 15%, the payout will be par plus the absolute value of the basket’s return.
Otherwise, investors will lose 1% for every 1% that the basket declines beyond 15%.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Capped dual directional buffered return enhanced notes
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| Underlying indexes: | S&P 500 index, Dow Jones industrial average; equal weights
|
| Amount: | $3,704,000
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| Maturity: | Aug. 1, 2024
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the basket finishes at or above initial level, par plus 1.15 times basket’s return, subject to maximum upside return of par plus 10%; if final level of basket is less than initial level by up to 15%, par plus absolute value of basket’s return; otherwise, 1% loss for every 1% that basket declines beyond 15%
|
| Initial levels: | 34,122.42 for Dow, 4,396.44 for S&P
|
| Buffer level: | 85% of initial level
|
| Pricing date: | June 29
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| Settlement date: | July 5
|
| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.65%
|
| Cusip: | 48133XL46
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