Published on 7/1/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.68 million capped buffered equity notes tied to seven stock basket
By William Gullotti
Buffalo, N.Y., July 1 – JPMorgan Chase Financial Co. LLC priced $1.68 million of 0% capped buffered equity notes due July 13, 2022 linked to a basket of seven equally weighted stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the stocks of Adobe Inc., Alphabet Inc., Amazon.com, Inc., Honeywell International Inc., Lam Research Corp., Microsoft Corp. and salesforce.com, inc.
If the underlying basket finishes above its initial level, the payout at maturity will be par plus the gain up to a maximum return of 17.3%.
If the basket falls by up to 15%, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline from initial basket level.
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: | Capped buffered equity notes
|
| Underlying basket: | Adobe Inc. (Symbol: ADBE), Alphabet Inc. (Symbol: GOOGL), Amazon.com, Inc. (Symbol: AMZN), Honeywell International Inc. (Symbol: HON), Lam Research Corp. (Symbol: LRCX), Microsoft Corp. (Symbol: MSFT) and salesforce.com, inc. (Symbol: CRM), equally weighted
|
| Amount: | $1,675,000
|
| Maturity: | July 13, 2022
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus any basket gain capped at 17.3%; if basket falls by up to 15%, par; otherwise, 1% loss for each 1% decline from initial level
|
| Initial levels: | $579.66 for Adobe, $2,450.17 for Alphabet, $3,401.46 for Amazon, $218.74 for Honeywell, $630.44 for Lam, $265.02 for Microsoft, $241.87 for salesforce
|
| Buffer level: | 85% of initial level
|
| Pricing date: | June 25
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| Settlement date: | June 30
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
|
| Cusip: | 48132URY1
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