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JPMorgan plans contingent absolute return autocallables on Expedia
By Susanna Moon
Chicago, April 16 - JPMorgan Chase & Co. plans to price 0% contingent absolute return autocallable optimization securities due April 28, 2014 linked to Expedia Inc. shares, according to an FWP filing with the Securities and Exchange Commission.
The notes will be called at par plus an annualized call premium of 12% to 16% if Expedia shares close at or above the initial share price on any quarterly observation date. The exact call return will be set at pricing.
If the notes are not called and the final share price is at or above the 70% trigger level, the payout at maturity will be par plus the absolute value of the return.
Otherwise, investors will be fully exposed to any losses.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
The notes are expected to price on April 19 and settle on April 25.
The Cusip number is 25155H813.
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