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JPMorgan plans review notes linked to S&P 500, Russell 2000 indexes
By Marisa Wong
Morgantown, W.Va., Nov. 29 – JPMorgan Chase Financial Co. LLC plans to price 0% review notes due Dec. 7, 2020 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 called at par plus a premium of at least 10.5% per year if each index closes at or above its initial level on an annual review date.
If the notes are not called, the payout at maturity will be par plus a contingent minimum return of 10% unless either index declines by more than 30%, in which case investors will lose 1% for each 1% that the lesser-performing index finishes below its initial level.
J.P. Morgan Securities LLC is the agent.
The notes will price Dec. 2, but the initial levels will be set equal to the index closing levels on Nov. 18.
The Cusip number is 46646QBM6.
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