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JPMorgan plans capped dual directional buffered notes on Russell, S&P
By Emma Trincal
New York, Sept. 15 – JPMorgan Chase Financial Co. LLC plans to price 0% capped dual directional buffered return enhanced notes due Oct. 5, 2022 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If each index finishes at or above its initial level, the payout at maturity will be par plus 1.5 times any gain of the lesser-performing index, subject to a maximum return of at least 18%. The exact maximum return will be set at pricing.
If the lesser-performing index declines by up to 15%, the payout will be par plus the absolute value of the lesser-performing index’s return.
Otherwise, investors will lose 1% for each 1% decline of the worse performing index beyond 15%.
J.P. Morgan Securities LLC is the agent.
The Cusip number is 48132PAF1.
The notes will price on Sept. 30 and settle on Oct. 5.
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