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JPMorgan eyes capped dual directional buffered equity notes on S&P, Russell
By Sarah Lizee
Olympia, Wash., Oct. 24 – JPMorgan Chase Financial Co. LLC plans to price 0% capped dual directional buffered equity notes due April 30, 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.
If each index finishes at or above the initial level, the payout at maturity will be par plus the lesser performing index return, capped at par plus 16.5%.
If either index falls but by no more than the 10% buffer, the payout will be par plus the absolute value of the return of the lesser-performing index.
If either index falls by more than 10%, investors will lose 1% for each 1% decline of the lesser-performing index beyond 10%.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
The notes will price on Oct. 28.
The Cusip number is 48132FQA7.
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