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JPMorgan plans to price review notes linked to S&P 500, Russell 2000
By Wendy Van Sickle
Columbus, Ohio, July 7 – JPMorgan Chase Financial Co. LLC plans to price 0% review notes due July 27, 2020 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.
The notes will be called at par plus a premium of 11.75% to 12.75% per year if each index closes at or above its initial level on any annual review date. The exact call premium will be set at pricing.
If the notes are not called and the final level of each index is greater than or equal to its trigger value, 70% of its initial level, the payout at maturity will be par plus 10%. Otherwise, investors will lose 1% for each 1% that the lesser-performing index's final level is less than its initial level.
J.P. Morgan Securities LLC is the agent.
The notes will price July 22.
The Cusip number is 46646ELF7.
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