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JPMorgan to price buffered autocallables linked to S&P 500, Russell
By Angela McDaniels
Tacoma, Wash., Jan. 3 – JPMorgan Chase Financial Co. LLC plans to price 0% autocallable buffered equity notes due Jan. 30, 2026 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
The notes will be automatically called at par plus a call premium if each index closes at or above its initial level on any of seven annual review dates. The call premium is expected to be at least 8% per year and will be set at pricing.
If the notes have not been called and the final level of each index is greater than its initial level, the payout at maturity will be par plus the return of the lesser-performing index.
If the final level of one index is greater than its initial level and the final level of the other index is equal to its initial level or is less than its initial level by up to 20% or if the final level of each index is equal to its initial level or is less than its initial level by up to 20%, the payout will be par.
If the final level of either index is less than its initial level by more than 20%, investors will lose 1% for every 1% that the lesser-performing index declines beyond 20%.
J.P. Morgan Securities LLC is the agent.
The notes will price Jan. 28.
The Cusip number is 48130WNR8.
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