Published on 6/15/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.92 million uncapped dual directional digital barrier notes on indexes
By William Gullotti
Buffalo, N.Y., June 15 – JPMorgan Chase Financial Co. LLC priced $1.92 million of 0% uncapped dual directional digital barrier notes due June 10, 2027 linked to the Dow Jones industrial average, 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 54%.
If the worst performer declines but finishes at or above 65% 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
|
| 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, Dow Jones industrial average
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| Amount: | $1,916,000
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| Maturity: | June 10, 2027
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If all indexes finish at or above initial level, the greater of par plus 54% 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
|
| Initial index levels: | 12,711.68 for Nasdaq, 1,919.563 for Russell, 33,180.14 for Dow
|
| Barrier levels: | 8,262.592 for Nasdaq, 1,247.71595 for Russell, 21,567.091 for Dow; 65% of initial levels
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| Pricing date: | June 7
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| Settlement date: | June 10
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.08325%
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| Cusip: | 48133GUP6
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