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JPMorgan lowers cap for buffered return enhanced notes on EAFE ETF
By Angela McDaniels
Tacoma, Wash., Feb. 5 – JPMorgan Chase Financial Co. LLC lowered the maximum return for its upcoming 0% capped buffered return enhanced notes due Aug. 31, 2020 linked to the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
The maximum return is now expected to be 13% to 17% and will be set at pricing. Originally, it was expected to be 13.5% to 17.5%.
If the final share price is greater than the initial share price, the payout at maturity will be par plus two times the ETF return, subject to the maximum return. Investors will receive par if the ETF declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
J.P. Morgan Securities LLC is the agent.
The notes will price Feb. 28.
The Cusip number is 48130WXA4.
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