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JPMorgan eyes uncapped buffered return enhanced notes on Russell, S&P
By Devika Patel
Knoxville, Tenn., July 2 – JPMorgan Chase Financial Co. LLC plans to price 0% uncapped buffered return enhanced notes due July 31, 2023 linked to the lesser performing of the Russell 2000 index and 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 each index finishes at or above its initial level, the payout at maturity will be par plus at least 1.15 times any gain of the lesser-performing index. The exact participation rate will be set at pricing.
Investors will receive par if the lesser-performing index declines by up to 22.5%.
Otherwise, investors will lose 1% for each 1% decline of the lesser-performing index beyond the 22.5% buffer.
J.P. Morgan Securities LLC is the agent.
The notes (Cusip: 48129M6U5) will price on July 26 and settle on July 31.
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