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JPMorgan eyes dual directional buffered return enhanced notes on S&P, Russell
By Sarah Lizee
Olympia, Wash., May 15 – JPMorgan Chase Financial Co. LLC plans to price 0% uncapped dual directional buffered return enhanced notes due May 25, 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 above its initial level, the payout at maturity will be par plus 1.1 times the lesser-performing index’s return.
If the final level of the lesser-performing is flat or falls by up to 10%, the payout will be par plus the absolute value of the lesser-performing index’s return.
If the final level of either index is less than its initial level by more than 10%, investors will lose 1% for every 1% that the lesser-performing index declines beyond 10%.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
The notes will price on May 20.
The Cusip number is 48132KN84.
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