JPMorgan to sell capped dual directional notes tied to S&P 500 index

By Devika Patel

Knoxville, Tenn., April 13 – JPMorgan Chase Financial Co. LLC plans to price 0% capped dual directional contingent buffered equity notes due April 27, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by JPMorgan Chase & Co.

If the final index level is greater than the closing level of the index on April 9, the payout at maturity will be par plus the index return, subject to a maximum payout of at least 10%. The exact cap will be set at pricing.

If the final index level is equal to the closing level of the index on April 9 or falls by up to the 25.8% buffer, the payout will be par.

If the final index level is less than the closing level of the index on April 9 by more than 25.8%, investors will lose 1% for every 1% that the index declines from its closing level on April 9.

J.P. Morgan Securities LLC is the agent.

The notes (Cusip: 48132KSP1) will price on April 14 and settle on April 17.

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