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JPMorgan plans dual direction contingent buffer notes tied to S&P 500
By Susanna Moon
Chicago, Oct. 18 – JPMorgan Chase Financial Co. LLC plans to price 0% dual directional contingent buffered notes due Nov. 8, 2017 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the index finishes at or above the initial level, the payout at maturity will be par plus the gain up to a maximum return of 6%.
If the index finishes at or above the initial level but falls by no more than the 18.35% contingent buffer, the payout will be par plus the absolute value of the return up to 18.35%.
If the index falls by more contingent buffer, investors will be fully exposed to any losses.
J.P. Morgan Securities LLC is the agent.
The notes will price on Oct. 21 and settle on Oct. 26.
The Cusip number is 46646EZ88.
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