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JPMorgan eyes uncapped dual directional buffered equity notes on S&P, Russell
By Sarah Lizee
Olympia, Wash., Oct. 23 – JPMorgan Chase Financial Co. LLC plans to price 0% uncapped dual directional buffered equity notes due April 28, 2022 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above the initial level, the payout at maturity will be par plus the lesser performing index return.
If either index falls but by no more than the 15% buffer, the payout will be par plus the absolute value of the return of the lesser-performing index.
If either index falls by more than 15%, investors will lose 1% for each 1% decline of the lesser-performing index beyond 15%.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
The notes will price on Oct. 25.
The Cusip number is 48132FXJ0.
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