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JPMorgan plans dual directional contingent buffered notes on S&P, Russell
By Tali Rackner
Norfolk, Va., March 10 – JPMorgan Chase & Co. plans to price 0% dual directional contingent buffered return enhanced notes due March 31, 2020 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus at least 1.15 times the gain of the lesser performing index. The exact upside leverage factor will be set at pricing.
If either index falls by up to the 35% contingent buffer, the payout will be par plus the absolute value of the lesser index return.
If either index falls by more than the contingent buffer, investors will be fully exposed to any losses of the worst performing index.
J.P. Morgan Securities LLC is the agent.
The notes will price on March 28 and settle on March 31.
The Cusip number is 48128GQL7.
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