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JPMorgan plans five-year buffer equity notes tied to S&P 500, Russell
By Susanna Moon
Chicago, July 5 – JPMorgan Chase Financial Co. LLC plans to price 0% buffered equity notes due July 31, 2023 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.
If each underlying index finishes above its initial level, the payout at maturity will be par plus greater of the gain of the worse performing index and the contingent minimum return of 40%.
If either underlying index falls by up to 20%, the payout will be par.
If either index falls by more than 20%, investors will lose 1% for each 1% decline of the worse performing index beyond the buffer.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
The notes will price on July 31.
The Cusip number is 48129ME77.
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