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JPMorgan plans dual directional buffered equity notes tied to S&P 500
By Susanna Moon
Chicago, Feb. 29 - JPMorgan Chase & Co. plans to price 0% dual directional buffered equity notes due March 20, 2013 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index finishes at or above the initial level, the payout at maturity will be par plus any gain, up to a maximum return of at least 10%. The exact cap will be set at pricing.
If the index falls by up to 15%, the payout will be par plus the absolute value of the return.
If the index falls by more than 15%, investors will be fully exposed to the decline.
J.P. Morgan Securities LLC is the agent.
The notes will price on March 2 and settle on March 7.
The Cusip number is 48125VPM6.
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