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JPMorgan plans uncapped dual directional notes tied to S&P 500
By Tali Rackner
Norfolk, Va., Feb. 22 – JPMorgan Chase Financial Co. LLC plans to price 0% uncapped dual directional notes due Feb. 28, 2022 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 greater of the index return and the contingent minimum return, which is expected to be at least 33% and will be set at pricing.
If the final index level is less than the initial index level by up to 30%, the payout will be par plus the absolute value of the index return.
If the final index level is less than the initial index level by more than 30%, investors will lose 1% for every 1% that the final index level is less than the initial index level.
J.P. Morgan Securities LLC is the agent.
The notes will price on Feb. 23 and settle on Feb. 28.
The Cusip number is 46646QZP3.
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