Published on 4/28/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.23 million capped dual directional contingent buffered notes on S&P
By Sarah Lizee
Olympia, Wash., April 28 – JPMorgan Chase Financial Co. LLC priced $1.23 million of 0% capped dual directional contingent buffered equity notes due May 7, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the index finishes above its initial level, the payout at maturity will be par plus the gain, capped at 10%.
If the index finishes flat or falls by up to 29.85%, payout will be par plus the absolute value of the index return. Otherwise, investors will be fully exposed to the index’s decline from the 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: | Capped dual directional contingent buffered equity notes
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Underlying index: | S&P 500 index
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Amount: | $1,233,000
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Maturity: | May 7, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any index gain, capped at 10%; if index falls by up to 29.85%, par plus the absolute value of the index return; otherwise, full exposure to losses
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Initial level: | 2,736.56
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Contingent buffer level: | 70.15% of initial level
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Final level: | Average of index closing levels for five trading days ending May 4, 2021
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Pricing date: | April 22
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Settlement date: | April 27
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 48132KXE0
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