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JPMorgan plans autocallable reverse exchangeables on American Airlines
By Wendy Van Sickle
Columbus, Ohio, Dec. 7 – JPMorgan Chase & Co. autocallable reverse exchangeable notes due Dec. 21, 2017 linked to the common stock of American Airlines Group, Inc., according to an FWP filed with the Securities and Exchange Commission.
Interest is payable monthly and will be at least 7.5% with the exact coupon to be set at pricing.
The notes will be called at par if the stock closes at or above its initial share price on any review date other than the final review date.
The payout at maturity will be par unless the stock finishes below its initial level and ever closes below its trigger level, 60% of the initial share price, during the life of the notes, in which case the payout will be a number of shares equal to $1,000 divided by the initial share price.
J.P. Morgan Securities LLC is the agent.
The notes will price on Dec. 16 and settle on Dec. 21.
The Cusip number is 46625HPQ7.
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