JPMorgan to price uncapped dual directional notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., Jan. 15 – JPMorgan Chase Financial Co. LLC plans to price 0% uncapped dual directional contingent buffered equity notes due Jan. 29, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be 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 index return.

If the final index level is less than the initial index level but a knock-out event has not occurred, the payout will be par plus the absolute value of the index return. A knock-out event occurs if the index closes below the initial index level by more than the contingent buffer amount on any day during the life of the notes. The contingent buffer amount will be at least 29.5% and will be set at pricing.

If the final index level is less than the initial index level and a knock-out event has occurred, investors will lose 1% for every 1% that the final index level is below the initial index level.

J.P. Morgan Securities LLC is the agent.

The notes will price Jan. 28.

The Cusip number is 48130WSS1.

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