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JPMorgan plans dual directional contingent buffered notes on S&P, Russell
By Sarah Lizee
Olympia, Wash., Feb. 6 – JPMorgan Chase Financial Co. LLC plans to sell 0% uncapped dual directional contingent buffered return enhanced notes due Feb. 29, 2024 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 will be guaranteed by JPMorgan Chase & Co.
If each index gains, the payout at maturity will be par plus at least 1.2 times the return of the lesser performing index.
If either index falls but neither loses by more than the contingent buffer of 40% then the payout at maturity will be par plus the absolute value of the return of the lesser performing index.
If the lesser performing index declines by more than 40% the payout will be par less the loss of that index from its initial value.
J.P. Morgan Securities LLC is the agent.
The notes will price on Feb. 28.
The Cusip is 48130WYC9.
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