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JPMorgan plans dual directional contingent buffered notes on S&P 500
By Marisa Wong
Madison, Wis., April 6 – JPMorgan Chase & Co. plans to price 0% capped dual directional contingent buffered return enhanced notes due April 30, 2019 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.
If the index finishes above its initial level, the payout at maturity will be par plus 1.1 times the index gain, subject to a maximum return of at least 50%. The exact cap will be set at pricing.
If the index falls by up to 30%, the payout will be par plus the absolute value of the index return.
Otherwise, the payout will be par plus the return, with full exposure to any losses.
J.P. Morgan Securities LLC is the agent.
The notes will price on April 27 and settle on April 30.
The Cusip number is 48125ULW0.
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