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JPMorgan plans five-year dual direction contingent buffer notes on S&P
By Susanna Moon
Chicago, July 1 – JPMorgan Chase & Co. plans to price 0% capped dual directional contingent buffered return enhanced notes due July 31, 2020 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 any index gain, up to a maximum return of 50%.
If the index falls by up to 32.5%, 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 July 28 and settle on July 31.
The Cusip number is 48125UYS5.
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