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JPMorgan prices buffered return enhanced notes linked to S&P, Russell
By Sarah Lizee
Olympia, Wash., Oct. 24 – JPMorgan Chase Financial Co. LLC plans to price 0% uncapped buffered return enhanced notes due Oct. 31, 2024 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 gains, the payout at maturity will be par plus 1.11 times the return of the lesser-performing index.
If either index finishes flat or falls by up to 20% of its initial level, the payout will be par.
If either index falls by more than 20%, investors will lose 1% for every 1% that the lesser-performing index declines beyond the 20% buffer.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
The notes will price on Oct. 28.
The Cusip number is 48132FUR5.
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