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JPMorgan plans dual directional contingent buffered notes tied to S&P
By Susanna Moon
Chicago, May 10 – JPMorgan Chase Financial Co. LLC plans to price 0% dual directional contingent buffered return enhanced notes due May 28, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the index finishes at or above its initial level, the payout at maturity will be par plus 1.2 times the gain, up to a maximum return of at least 45%.
If the index falls by up to 32.5%, the payout will be par plus the absolute value of the return.
If the index falls by more than the contingent buffer, investors will be fully exposed to any losses.
J.P. Morgan Securities LLC is the agent.
The notes will price on May 25 and settle on May 31.
The Cusip number is 46646EBD3.
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