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JPMorgan plans dual directional notes due 2022 tied to S&P, Russell
By Marisa Wong
Morgantown, W.Va., Nov. 27 – JPMorgan Chase Financial Co. LLC plans to price 0% uncapped dual directional contingent buffered return enhanced notes due Nov. 30, 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.
The notes are guaranteed by JPMorgan Chase & Co.
If each index finishes above its initial level, the payout at maturity will be par plus at least 1.15 times the gain of the worse performing index.
If the worse performing index falls by up to 40%, the payout will be par plus the absolute value of its return.
Otherwise, investors will lose 1% for each 1% decline of the worse performing index.
J.P. Morgan Securities LLC is the agent.
The notes will price Nov. 30.
The Cusip number is 48129HLW5.
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