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JPMorgan plans uncapped buffered equity notes on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, May 2 – JPMorgan Chase & Co. plans to price uncapped buffered equity notes due May 29, 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.
If each index finishes at or above its initial level, the payout at maturity will be par plus the greater of the return of the lesser performing index and the contingent minimum return of at least 25%.
If either index finishes below its initial value but the lesser performing index is not less than its initial value by more than 20%, the payout will be par.
If any index falls by more than 20%, investors will lose 1% for each 1% decline of the least-performing index beyond the 20% buffer.
J.P. Morgan Securities LLC is the agent.
The notes will price on May 25.
The Cusip number is 48128GXG0.
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