JPMorgan plans buffered digital relative performance notes on funds

By Susanna Moon

Chicago, Sept. 25 – JPMorgan Chase Financial Co. LLC plans to price 0% buffered digital notes due Sept. 30, 2020 linked to the relative performance of the Financial Select Sector SPDR fund and the Utilities Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by JPMorgan Chase & Co.

If the return of the Financial SPDR, or the long fund, finishes at or above the Utilities SPDR, or the short fund, the payout at maturity will be par plus a fixed return of at least 22.7%.

If the long fund finishes at a level below the short fund but the relative return is less than or equal to 5%, the payout will be par.

Otherwise, the payout will be par plus the relative return plus the 5% buffer.

J.P. Morgan Securities LLC is the agent.

The notes will price on Sept. 29 and settle on Oct. 4.

The Cusip number is 46647MNE9.

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