JPMorgan to price dual directional notes linked to Brent crude oil

By Marisa Wong

Madison, Wis., March 26 - JPMorgan Chase & Co. plans to price 0% dual directional notes due April 11, 2013 linked to the first nearby month futures contract for Brent crude oil, according to an FWP filing with the Securities and Exchange Commission.

If the final contract price is greater than or equal to the initial contract price, the payout at maturity will be par plus the contract return, subject to a maximum return of at least 16.25%. The exact cap will be set at pricing.

If the final contract price is less than the initial price by up to 25%, the payout will be par plus the absolute value of the contract return.

If the final contract price is less than the initial price by more than 25%, the payout will be par plus the contract return. Investors will be fully exposed to losses.

The notes (Cusip: 48125VUD0) will price March 30 and settle April 4.

J.P. Morgan Securities LLC is the agent.

© 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.