JPMorgan aims to sell uncapped dual directional notes tied to S&P 500

By Devika Patel

Knoxville, Tenn., Oct. 13 – JPMorgan Chase Financial Co. LLC plans to price 0% uncapped dual directional notes due Oct. 29, 2021 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 final index level is greater than or equal to the initial index level, the payout at maturity will be par plus the greater of the contingent minimum return, which is expected to be at least 30% and will be set at pricing, and the index return.

If the final index level is less than the initial index level by up to 30%, the payout will be par plus the absolute value of the index return.

If the final index level is less than the initial index level by more than 30%, investors will lose 1% for every 1% that the final index level is less than the initial index level.

J.P. Morgan Securities LLC is the agent.

The notes (Cusip: 46646EN81) will price on Oct. 26 and settle on Oct. 31.

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