Published on 9/29/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $3.12 million capped dual directional accelerated barrier notes on ETFs
By William Gullotti
Buffalo, N.Y., Sept. 29 – JPMorgan Chase Financial Co. LLC priced $3.12 million of 0% capped dual directional accelerated barrier notes due Sept. 30, 2026 linked to the Invesco QQQ Trust, Series 1 and the Technology Select Sector SPDR Fund, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If each ETF finishes flat or positive, the payout at maturity will be par plus 130% of the gain of the worst performing ETF, subject to a maximum return of par plus 75%.
If the worst performing ETF declines by up to 25%, the payout will be par plus 30% of the absolute value of that ETF’s return.
Otherwise, investors will lose 1% for each 1% decline of the worst performing ETF 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 accelerated barrier notes
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| Underlying ETFes: | Invesco QQQ Trust, Series 1, Technology Select Sector SPDR Fund
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| Amount: | $3,116,000
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| Maturity: | Sept. 30, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each ETF finishes flat or positive, par plus 130% of ETF gain of worst performer, capped at par plus 75%; if worst performing ETF declines by up to 25%, par plus 30% of the absolute value of the return of that ETF; otherwise, 1% loss for each 1% decline of worst performer from initial level
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| Initial ETF levels: | $359.61 for QQQ, $164.94 for SPDR
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| Barrier levels: | $269.7075 for QQQ, $123.705 for SPDR; 75% of initial levels
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| Pricing date: | Sept. 25
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| Settlement date: | Sept. 28
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.95%
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| Cusip: | 48134A6J9
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