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JPMorgan to price contingent interest autocallables on indexes, fund
By Sarah Lizee
Olympia, Wash., Nov. 6 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due Nov. 25, 2022 linked to the least performing of the SPDR S&P Oil & Gas Exploration & Production ETF, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.75% if each underlying asset closes at or above its 60% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each asset closes at or above its initial level on any review date other than the first, second, third and final dates.
The payout at maturity will be par unless any asset finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worst performing index or fund.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
The notes will price on Nov. 20.
The Cusip number is 48130UN84.
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