New Issue: JPMorgan prices $175,000 capped dual directional contingent buffered notes on S&P

By Tali Rackner

Norfolk, Va., Nov. 3 – JPMorgan Chase & Co. priced $175,000 of 0% capped dual directional contingent buffered return enhanced notes due Oct. 30, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index level is greater than the initial level, the payout at maturity will be par plus 1.25 times the index return, subject to a maximum return of 50%.

If the index falls by up to 35%, the payout will be par plus the absolute value of the index return.

Otherwise, investors will be fully exposed to the index decline.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Capped dual directional contingent buffered return enhanced notes
Underlying index:	S&P 500
Amount:	$175,000
Maturity:	Oct. 30, 2020
Coupon:	0%
Price:	Par of $1,000
Payout at maturity:	If index return is positive, par plus 1.25 times the index return, capped at 50%; if index falls by up to 35%, par plus absolute value of index return; otherwise, full exposure to losses
Initial level:	2,065.89
Buffer amount:	35%
Pricing date:	Oct. 27
Settlement date:	Oct. 30
Agent:	J.P. Morgan Securities LLC
Fees:	2.5%
Cusip:	48125U6X5

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