Published on 9/22/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $3.85 million uncapped dual directional barrier notes on Russell, S&P
By William Gullotti
Buffalo, N.Y., Sept. 22 – JPMorgan Chase Financial Co. LLC priced $3.85 million of 0% uncapped dual directional barrier notes due July 5, 2024 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The payout at maturity will be par plus the gain of the worst performer, if all indexes finish above their initial levels.
If any index falls but each index finishes at or above 74% of its initial level, the payout will be par plus the absolute value of the lesser performing index return.
Otherwise, investors will lose 1% for each 1% decline of the worst performing index 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: | Uncapped dual directional barrier notes
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Underlying indexes: | Russell 2000 index, S&P 500 index
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Amount: | $3,849,000
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Maturity: | July 5, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If all indexes finish above initial level, par plus return of worst performer; if any index declines but nany finishes below barrier level, par plus absolute value of lesser performing index; otherwise, 1% loss for each 1% decline below initial level of worst performer
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Initial index levels: | 2,310.549 for Russell, 4,297.5 for S&P
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Barrier levels: | 1,709.80626 for Russell, 3,180.15 for S&P; 74% of initial levels
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Pricing date: | June 30
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Settlement date: | July 6
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.8361%
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Cusip: | 48132UQY2
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