Published on 1/12/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.17 million uncapped digital barrier notes linked to three indexes
By William Gullotti
Buffalo, N.Y., Jan. 12 – JPMorgan Chase Financial Co. LLC priced $1.17 million of 0% uncapped digital barrier notes due Aug. 27, 2026 linked to the least performing of the S&P 500 index, the Dow Jones industrial average and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the lesser performing index finishes at or above its initial level, the payout at maturity will be par plus the greater of the lesser performing index’s return and the digital upside return of 27%.
If the final level of any index is less than its initial level but the final level of each index is greater than or equal to its barrier level, 60% of its initial level, the payout will be par.
Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
The notes are guaranteed by JPMorgan Chase & Co.
The agent is J.P. Morgan Securities LLC.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Uncapped digital barrier notes
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| Underlying indexes: | S&P 500 index, Nasdaq-100 index, Dow Jones industrial average
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| Amount: | $1,169,000
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| Maturity: | Aug. 27, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If lesser performing index finishes at or above initial level, par plus greater of lesser performing index’s return and 27%; if final level of any index is less than initial level but final level of each index is greater than or equal to barrier level, par; otherwise, full exposure to decline of worst performer from initial level
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| Initial levels: | 35,366.26 for Dow, 4,486.23 for S&P, 15,357.68 for Nasdaq
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| Barrier levels: | 21,219.756 for Dow, 2,691.738 for S&P, 9,214.608 for Nasdaq; 60% of initial levels
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| Pricing date: | Aug. 24
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| Settlement date: | Aug. 27
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.5%
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| Cusip: | 48132WFR5
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