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JPMorgan eyes dual directional contingent buffered notes on Russell, S&P
By Sarah Lizee
Olympia, Wash., May 8 – JPMorgan Chase Financial Co. LLC plans to price 0% uncapped dual directional contingent buffered equity notes due May 31, 2024 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above the initial level, the payout at maturity will be par plus the greater of 30% and the return of the lesser-performing index.
If either index falls but by no more than the 30% contingent buffer, the payout will be par plus the absolute value of the return of the lesser-performing index.
If either index falls by more than 30%, investors will lose 1% for each 1% decline of the lesser-performing index.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
The notes will price on May 28.
The Cusip number is 48132CFV0.
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