Published on 7/29/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $2.68 million capped dual directional contingent buffered notes on S&P
By Kiku Steinfeld
Chicago, July 29 – JPMorgan Chase Financial Co. LLC priced $2.68 million of 0% capped dual directional contingent buffered equity notes due Aug. 11, 2021linked 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 17.4%, the payout will be par plus the absolute value of the index return. Otherwise, investors will lose 1% for every 1% that the index declines 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: | Capped dual directional contingent buffered equity notes
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Underlying index: | S&P 500 index
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Amount: | $2,675,000
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Maturity: | Aug. 11, 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 barrier level, par plus the absolute value of the index return; otherwise, 1% loss for every 1% index decline
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Initial level: | 3,215.63
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Barrier level: | 82.6% of initial level
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Final level: | Average of index closing levels for five trading days ending Aug. 11, 2021
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Pricing date: | July 24
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Settlement date: | July 29
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 48132MVZ1
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