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JPMorgan eyes dual directional buffered participation notes on basket
By Sarah Lizee
Olympia, Wash., Feb. 11 – JPMorgan Chase Financial Co. LLC plans to price 0% dual directional buffered participation securities due Sept. 3, 2020 linked to an equally-weighted basket consisting of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the basket finishes above the initial level, the payout at maturity will be par plus the gain up to a maximum payout of par plus 17.85%.
If the basket falls but not by more than 10%, the payout will be par plus the absolute value of the return of the basket.
Otherwise, investors will lose 1% for each 1% loss of basket beyond the buffer.
J.P. Morgan Securities LLC is the agent. Morgan Stanley Wealth Management is handling distribution.
The notes will price on Feb. 28.
The Cusip number is 48130X547.
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