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JPMorgan plans trigger step performance notes due 2020 tied to S&P 500
By Susanna Moon
Chicago, Feb. 22 – JPMorgan Chase & Co. plans to price 0% trigger step performance securities due Feb. 28, 2020 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index finishes at or above its initial level, the payout at maturity will be par of $10 plus greater of the gain and the step return of 36.45% to 38.45%.
Investors will receive par if the index falls by up to 25% and will be fully exposed to any losses if the index finishes below its 75% trigger level.
The exact deal terms, including step return, will be set at pricing.
J.P. Morgan Securities LLC and UBS Financial Services Inc. are the agents.
The notes will price on Feb. 24 and settle on Feb. 29.
The Cusip number is 48128A111.
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