JPMorgan plans dual directional contingent buffered notes tied to S&P

By Angela McDaniels

Tacoma, Wash., Oct. 16 – JPMorgan Chase Financial Co. LLC plans to price 0% uncapped dual directional contingent buffered equity notes due Oct. 31, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by JPMorgan Chase & Co.

A knock-out event occurs if the index closes below its initial level by more than the contingent buffer amount on any day during the life of the notes. The contingent buffer amount is expected to be at least 22.5% and will be set at pricing.

If the final index level is greater than or equal to the initial index level, the payout at maturity will be par plus the index return.

If the final index level is less than the initial index level and a knock-out event has not occurred, the payout will be par plus the absolute value of the index return.

If the final index level is less than the initial index level and a knock-out event has occurred, investors will lose 1% for every 1% that the index declines from its initial level.

J.P. Morgan Securities LLC is the agent.

The notes will price Oct. 26.

The Cusip number is 46647MPA5.

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