JPMorgan plans digital dual directional notes linked to S&P, Russell

By Devika Patel

Knoxville, Tenn., March 29 – JPMorgan Chase Financial Co. LLC plans to price 0% digital dual directional notes due April 21, 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 the final value of each index is greater than or equal to its initial level, the payout at maturity will be par plus the digital return, which is expected to be at least 32% and will be set at pricing. If either index has declined but by no more than 30%, the payout at maturity will be par plus the absolute value of the worst performing index return.

If the final level of either index is less than the initial index level by more than 30%, investors will lose 1% for every 1% that the index level of the worst performing index is less than its initial level.

J.P. Morgan Securities LLC is the agent.

The notes (Cusip: 48129HT23) will price on April 16 and settle on April 19.

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