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JPMorgan plans dual direction contingent buffer notes on Russell, S&P
By Susanna Moon
Chicago, July 3 – JPMorgan Chase Financial Co. LLC plans to price 0% dual directional contingent 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.
If each underlying index finishes above its initial, the payout at maturity will be par plus at least 1.25 times the gain of the worse performing asset.
If either asset falls by up to the 30% contingent buffer, the payout will be par plus the absolute value of the return of the worse performing index.
Otherwise, investors will lose 1% for each 1% decline of the worse performing index.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
The notes will price on July 26.
The Cusip number is 48129M5V4.
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