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JPMorgan to price contingent income callable notes linked to indexes
By Tali Rackner
Norfolk, Va., Dec. 17 – JPMorgan Chase & Co. plans to price contingent income callable securities due Dec. 28, 2017 linked to the worst performing of the Euro Stoxx 50 index, the S&P 500 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of at least 12.15% if each index closes at or above its downside threshold level, 75% of its initial level, on the observation date for that quarter. The exact contingent coupon rate will be set at pricing.
The notes are callable at par on any contingent payment date other than the final one.
The payout at maturity will be par plus the contingent coupon unless any index finishes below its downside threshold level, in which case investors will be fully exposed to the decline of the least-performing index.
J.P. Morgan Securities LLC is the agent. Distribution is through Morgan Stanley Wealth Management.
The notes are expected to price Dec. 18.
The Cusip number is 48128GGG9.
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