JPMorgan plans dual directional review notes linked to index, fund

By Toni Weeks

San Luis Obispo, Calif., July 24 – JPMorgan Chase & Co. plans to price 0% dual directional review notes due Feb. 1, 2017 linked to the least performing of the Russell 2000 index and the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus an annualized call premium of at least 10.6% if each underlying component closes at or above its initial level on any semiannual review date beginning Jan. 27, 2016.

If the notes are not called and the return of each component is no less than negative 15%, the payout at maturity will be par plus the absolute value of the return of the least-performing component.

If either component finishes below the initial level by more than the 15% buffer, investors will be fully exposed to the decline of the least-performing component.

The notes (Cusip: 48125UC91) are expected to price July 27 and settle July 30.

J.P. Morgan Securities LLC is the agent.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.