Published on 3/24/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $5.23 million autocallable dual directional trigger PLUS linked to S&P 500
By Taylor Fox
New York, March 24 – JPMorgan Chase Financial Co. LLC priced $5.23 million of 0% autocallable dual directional trigger Performance Leveraged Upside Securities due March 16, 2023 linked to the S&P 500 index, according to a 424B2 with the Securities and Exchange Commission.
The notes will be called at par plus 7.05% if the index closes at or above its initial level on March 21, 2022.
If the final index level is greater than or equal to the initial index level, the payout at maturity will be par of $10 plus 120% of the index return. If the index declines by 20% or less, the payout will be par plus the absolute value of the index return. If the index declines by more than 20%, investors will lose 1% for every 1% that the index declines from its initial level.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent. Morgan Stanley Wealth Management is handling distribution.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable dual directional trigger Performance Leveraged Upside Securities
|
| Underlying index: | S&P 500
|
| Amount: | $5,230,030
|
| Maturity: | March 16, 2023
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Call: | At par plus 7.05% if the index closes at or above its initial level on March 21, 2022
|
| Payout at maturity: | If final index level is greater than initial index level, par plus 120% of index return; if final index level is less than initial index level but greater than or equal to trigger level, par plus absolute value of index return; if final index level is less than trigger level, 1% loss for every 1% that index declines from initial level
|
| Initial index level: | 3,943.34
|
| Trigger level: | 3,154.672, 80% of initial level
|
| Pricing date: | March 12
|
| Settlement date: | March 17
|
| Agent: | J.P. Morgan Securities LLC
|
| Distributor: | Morgan Stanley Wealth Management
|
| Fees: | 2.5%
|
| Cusip: | 48132Q136
|
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