JPMorgan plans digital dual directional notes linked to S&P, Russell

By Devika Patel

Knoxville, Tenn., July 11 – JPMorgan Chase Financial Co. LLC plans to price 0% digital dual directional notes due July 19, 2021 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by JPMorgan Chase & Co.

If the final value of each index is greater than or equal to its initial level, the payout at maturity will be par plus the digital return, which is expected to be at least 34.5% and will be set at pricing.

If either index falls, but neither finishes below the contingent buffer level of 70% of the initial level, the payout at maturity will be par plus the absolute value of the worst performing index return.

If the final level of either index is less than the initial index level by more than 30%, investors will lose 1% for every 1% that the index level of the worst performing underlier is less than its initial level.

J.P. Morgan Securities LLC is the agent.

The notes (Cusip: 46647MWV1) will price on July 14 and settle on July 19.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.