Published on 6/17/2021 in the Prospect News Structured Products Daily.
New Issue: JPM sells $143,000 capped dual directional buffered return enhanced notes on indexes
By William Gullotti
Buffalo, N.Y., June 17 – JPMorgan Chase Financial Co. LLC priced $143,000 of 0% capped dual directional buffered return enhanced notes due June 14, 2024 linked to the least performing of the Dow Jones industrial average, the Nasdaq-100 index 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 1.1 times the lesser-performing index’s return, subject to a maximum upside return of par plus 28%.
If the final level of the lesser-performing is flat or falls by up to 20%, the payout will be par plus the absolute value of the lesser-performing index’s return times the downside participation.
If the final level of either index is less than its initial level by more than 20%, investors will lose 1% for every 1% that the lesser-performing index declines beyond 20% to a minimum payout of $200 per note.
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 dual directional buffered return enhanced notes
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Underlying indexes: | Dow Jones industrial average, Nasdaq-100 index and Russell 2000
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Amount: | $143,000
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Maturity: | June 14, 2024
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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 1.1 times lesser-performing index’s return, subject to maximum upside return of par plus 28%; if final level of lesser-performing index is equal to initial level or is less than initial level by up to 20%, par plus absolute value of lesser-performing index’s return times downside participation; otherwise, 1% loss for every 1% that lesser-performing index declines beyond 20% to a minimum payout of $200 per note
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Initial levels: | 2,335.808 for Russell, 13,998.3 for Nasdaq, 34,479.6 for Dow
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Buffer levels: | 80% of initial levels
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Downside participation: | 50%
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Pricing date: | June 11
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Settlement date: | June 16
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.76014%
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Cusip: | 48132ULA9
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