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Correction: JPMorgan fixes initial level for PLUS linked to Russell
By Angela McDaniels
Tacoma, Wash., Jan. 3 - The initial index level for JPMorgan Chase & Co.'s 0% Performance Leveraged Upside Securities linked to the Russell 2000 index is 1,160.59, according to an amended FWP filing made with the Securities and Exchange Commission on Friday.
As reported Thursday, the company priced $3.02 million of the notes on Dec. 30, and they will mature on Feb. 4, 2015.
If the index return is positive, the payout at maturity will be par of $10 plus 300% of the index return, subject to a maximum return of 13.75%. If the index return is negative, investors will have 1-to-1 exposure to the decline.
J.P. Morgan Securities LLC is the agent. Distribution is through Morgan Stanley Smith Barney LLC.
The Cusip number is 48127A625.
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