Published on 7/12/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1 million uncapped dual directional digital barrier notes on indexes
By Wendy Van Sickle
Columbus, Ohio, July 12 – JPMorgan Chase Financial Co. LLC priced $1 million of 0% uncapped dual directional digital barrier notes due July 11, 2024 linked to the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If each index finishes at or above its initial level, the payout at maturity will be the greater of par plus the return of the least performing index and par plus 15%.
If the worst performer declines but finishes at or above 70% of its initial level, the payout will be par plus the absolute value of that index’s 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 digital barrier notes
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| Underlying indexes: | Russell 2000 index, Nasdaq-100 index, S&P 500 index
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| Amount: | $1 million
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| Maturity: | July 11, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If all indexes finish at or above initial level, the greater of par plus 15% and par plus return of worst performer; if the worst performer declines up to the barrier level, par plus absolute value of that index return; otherwise, 1% loss for each 1% decline of the worst performer from initial level
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| Initial index levels: | 12,109.05 for Nasdaq, 1,769.604 for Russell, 3,902.62 for S&P
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| Barrier levels: | 8,476.335 for Nasdaq, 1,238.7228 for Russell, 2,731.834 for S&P; 70% of initial levels
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| Pricing date: | July 7
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| Settlement date: | July 12
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.45%
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| Cusip: | 48133LBQ4
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