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JPMorgan plans return enhanced notes linked to S&P 500, Russell 2000
By Devika Patel
Knoxville, Tenn., July 3 – JPMorgan Chase Financial Co. LLC plans to price 0% uncapped contingent buffered return enhanced notes due Aug. 4, 2022 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
If each index finishes at or above 125% of its initial level, the payout at maturity will be par plus 25% plus 1.2 times any gain of the lesser-performing index.
If either index return is less than 125% of its initial level, but finishes above the buffer level of 60% of its initial level, the payout will be par plus 25%.
Otherwise, investors will lose 1% for each 1% decline of the lesser-performing index from its initial level.
J.P. Morgan Securities LLC is the agent.
The notes (Cusip: 46647MUZ4) will price on July 31 and settle on Aug. 3.
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