JPMorgan plans buffered optimization notes on Financial Select fund

By Marisa Wong

Morgantown, W.Va., Sept. 18 – JPMorgan Chase & Co. plans to price buffered optimization securities due Oct. 21, 2016 linked to the Financial Select Sector SPDR fund, according to an FWP with the Securities and Exchange Commission.

If the fund return is positive, the payout at maturity will be par plus the gain, capped at 9.75% to 12.75%.

Investors will receive par for losses up to 10% and will lose 1% for each 1% decline beyond the buffer.

UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.

The notes will price on Sept. 25 and settle on Sept. 30.

The Cusip number is 48127Y862.

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