JPMorgan eyes uncapped dual directional buffered notes on two indexes

By Sarah Lizee

Olympia, Wash., June 12 – JPMorgan Chase Financial Co. LLC plans to price 0% uncapped dual directional buffered return enhanced notes due June 30, 2023 linked to 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 each index finishes above the initial level, the payout at maturity will be par plus at least 1.07 times the return of the lesser performing index. The exact participation rate will be set at pricing.

If either index is flat or falls but by no more than the 20% 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 20%, investors will lose 1% for each 1% decline of the lesser-performing index beyond the 20% buffer.

J.P. Morgan Securities LLC is the agent.

The notes (Cusip: 48132CSX2) will price on June 28.

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