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JPMorgan plans to price digital notes with buffer linked to S&P 500
By Angela McDaniels
Tacoma, Wash., May 10 – JPMorgan Chase Financial Co. LLC plans to price 0% digital notes due June 15, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the final index level is greater than or equal to the initial index level, the payout at maturity will be par plus the digital return, which is expected to be at least 8.15% and will be set at pricing. If the final index level is less than the initial index level by up to 10%, the payout will be par. Otherwise, investors will lose 1% for every 1% that the index declines beyond 10%.
J.P. Morgan Securities LLC is the agent.
The notes will price May 12.
The Cusip number is 46646ECV2.
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