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JPMorgan plans to price high/low yield notes linked to Russell 2000
By Angela McDaniels
Tacoma, Wash., Feb. 1 – JPMorgan Chase & Co. plans to price high/low yield notes due March 1, 2022 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable annually. If the index return on the relevant annual review date is greater than or equal to zero, the coupon for that year will be 5% to 5.75% – with the exact rate to be set at pricing. If the index return on the review date is less than zero, the coupon for that year will be 3%.
The payout at maturity will be par unless the index declines by more than 15%, in which case investors will lose 1% for every 1% that the index declines beyond 15%.
J.P. Morgan Securities LLC is the agent.
The notes are expected to price Feb. 24.
The Cusip number is 48128GLD0.
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