JPMorgan to price contingent buffered enhanced notes on oil & gas ETF

By Marisa Wong

Madison, Wis., April 27 – JPMorgan Chase & Co. plans to price 0% capped contingent buffered return enhanced notes due Nov. 28, 2018 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.

If the final ETF level is greater than the initial level, the payout at maturity will be par plus 1.25 times the gain, subject to a maximum return of 66% to 74% that will be set at pricing.

If the final fund level is at least 65% of the initial level, the payout will be par.

If the fund falls by more than 35%, investors will lose 1% for every 1% drop below the initial level.

J.P. Morgan Securities LLC is the agent.

The notes are expected to price May 22 and settle June 1.

The Cusip number is 48125UPD8.

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