JPMorgan plans dual directional buffered notes tied to S&P 500 index

By Devika Patel

Knoxville, Tenn., July 13 – JPMorgan Chase Financial Co. LLC plans to price 0% dual directional buffered participation securities due Jan. 21, 2022 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 index finishes above its initial level, the payout at maturity will be par plus the gain, subject to a maximum payout of par plus 10.75%.

If the index falls but not by more than 10%, the payout will be par plus the absolute value of the index return.

Otherwise, investors will lose 1% for each 1% decline of index beyond the 10% buffer.

J.P. Morgan Securities LLC is the agent, with Morgan Stanley Smith Barney LLC handling distribution.

The notes (Cusip: 48132L533) will price on July 17 and settle three business days after pricing.

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