Published on 6/15/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $4.15 million uncapped dual directional buffered return enhanced notes
By William Gullotti
Buffalo, N.Y., June 15 – JPMorgan Chase Financial Co. LLC priced $4.15 million of 0% uncapped dual directional buffered return enhanced notes due June 5, 2025 linked to the Dow Jones industrial average, the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing 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 par plus 1.23 times the return of the least performing index.
If the worst performer declines but finishes at or above 90% of initial level, the payout will be par plus the absolute value of that index’s return.
If the worst performer declines more than 10% but finishes at or above 80% of initial level, investors will receive par. Otherwise, investors will lose 1% for every 1% decline of the worst performer below 20%.
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 buffered return enhanced notes
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| Underlying indexes: | S&P 500 index, Nasdaq-100 index, Dow Jones industrial average
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| Amount: | $4,146,000
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| Maturity: | June 5, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index gains, par plus 1.23 times the return of the worst performer; if worst performer declines up to 10%, par plus absolute value of return of that index; if the worst performer declines more than 10% but finishes at or above buffer level, par; otherwise, 1% loss for every 1% decline of worst performer below 20%
|
| Initial levels: | 4,132.15 for S&P, 12,642.1 for Nasdaq, 32,990.12 for Dow
|
| Absolute return barriers: | 3,718.935 for S&P, 11,377.89 for Nasdaq, 29,691.108 for Dow; 90% of initial levels
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| Buffer levels: | 80% of initial levels
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| Pricing date: | May 31
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| Settlement date: | June 3
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.95%
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| Cusip: | 48133GNB5
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