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JPMorgan eyes uncapped dual directional buffered notes on index, ETF
By Sarah Lizee
Olympia, Wash., Feb. 27 – JPMorgan Chase Financial Co. LLC plans to price 0% uncapped dual directional buffered return enhanced notes due March 9, 2021 linked to the Euro Stoxx 50 index and the iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If each asset finishes above the initial level, the payout at maturity will be par plus at least 1.68 times the return of the lesser performing asset. The exact participation rate will be set at pricing.
If either asset is flat or falls but by no more than the 15% buffer, the payout will be par plus the absolute value of the return of the lesser-performing index.
If either asset falls by more than 15%, investors will lose 1% for each 1% decline of the lesser-performing asset beyond the 15% buffer.
J.P. Morgan Securities LLC is the agent.
The notes (Cusip: 48130W3N9) will price on March 5.
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