Published on 5/24/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $4.25 million capped accelerated barrier notes on index, ETF basket
By Kiku Steinfeld
Chicago, May 24 – JPMorgan Chase Financial Co. LLC priced $4.25 million of 0% capped accelerated barrier notes due May 4, 2023 linked to a basket consisting of the S&P 500 index with a 40% weight, the iShares MSCI EAFE exchange-traded fund with a 30% weight, the S&P MidCap 400 index with a 20% weight and the Russell 2000 index with a 10% weight, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.25 times any basket gain, up to a maximum return of 21.25%.
Investors will receive par if the basket falls by up to 20%. Otherwise, investors will lose 1% for every 1% decline below its initial 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 accelerated barrier notes
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Underlying basket: | S&P 500 (40%), iShares MSCI EAFE ETF (30%), S&P MidCap 400 index (20%) and Russell 2000 index (10%)
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Amount: | $4,246,000
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Maturity: | May 4, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.25 times any basket gain, capped at 21.25%; par if basket falls by up to 20%; otherwise full exposure to losses
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Initial level: | 4,181.17 for S&P, $78.11 for ETF, 2,725.15 for MidCap, 2,266.449 for Russell
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Barrier level: | 80% of initial basket level
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Pricing date: | April 30
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Settlement date: | May 5
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.49131%
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Cusip: | 48132TUS3
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