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JPMorgan plans to price digital notes linked to Russell, S&P
By Sarah Lizee
Olympia, Wash., Sept. 12 – JPMorgan Chase Financial Co. LLC plans to price 0% digital notes due Oct. 16, 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.
A trigger event occurs if either index closes below its trigger value, 70% of its initial level, on any day during the life of the notes.
If a trigger event has not occurred, the payout at maturity will be par plus the contingent digital return, which is expected to be 7% and will be set at pricing.
If a trigger event has occurred and each index finishes at or above its initial level, the payout will be par.
If a trigger event has occurred and either index finishes below its initial level, investors will have one-to-one exposure to the decline of the lesser-performing index.
J.P. Morgan Securities LLC is the agent.
The notes will price Sept. 13.
The Cusip number is 48132FCZ7.
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