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JPMorgan plans to price bearish notes linked to S&P 500 index
By Sarah Lizee
Olympia, Wash., Aug. 27 – JPMorgan Chase Financial Co. LLC plans to price 0% bearish notes due Sept. 15, 2021 based on the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the index finishes at or above its initial level, the payout will be par.
If the index declines by up to 24%, the payout will be par plus absolute value of the index return.
Otherwise, investors will lose 1.31579% for every 1% that the index declines beyond 24%.
J.P. Morgan Securities LLC is the agent.
The notes will price on Aug. 28.
The Cusip number is 48132MF97.
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