Published on 6/4/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $560,000 uncapped contingent buffered return enhanced notes on indexes
By Kiku Steinfeld
Chicago, June 4 – JPMorgan Chase Financial Co. LLC priced $560,000 of 0% uncapped contingent buffered return enhanced notes due May 31, 2024 linked to the least performing of the Dow Jones industrial average, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above its initial level, the payout at maturity will be par plus 1.385 times the gain of the least performing index.
Investors will receive par if the least performing index falls by up to 40%.
Otherwise, investors will lose 1% for each 1% decline of the worst performing index.
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: | Uncapped contingent buffered return enhanced notes
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Underlying indexes: | Dow Jones industrial average, S&P 500 and Russell 2000
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Amount: | $560,000
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Maturity: | May 31, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index finishes at or above initial level, par plus 1.385 times any gain of worst performing index; par if worst performing index falls by up to 40%; otherwise, 1% loss for each 1% decline of worst performing index
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Initial levels: | 3,036.13 for S&P, 1,436.358 for Russell and 25,548.27 for Dow
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Contingent buffer: | 60% of initial levels
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Pricing date: | May 27
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Settlement date: | June 1
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.85%
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Cusip: | 48132KZ99
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