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JPMorgan plans contingent income autocallables tied to three indexes
By Marisa Wong
Madison, Wis., March 5 - JPMorgan Chase & Co. plans to price contingent income autocallable securities due March 17, 2017 linked to the Russell 2000 index, the Euro Stoxx 50 index and the MSCI Emerging Markets index, according to an FWP filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon of 2.25% if each index closes at or above its 75% coupon barrier level on a quarterly determination date.
The notes will be redeemed at par plus the contingent coupon if each index closes at or above its respective initial level on any quarterly determination date other than the final determination date.
The payout at maturity will be par plus the final contingent coupon, if any, unless any index finishes below its 60% downside threshold level, in which case investors will be fully exposed to any losses of the worst performing index.
J.P. Morgan Securities LLC is the agent. Morgan Stanley Smith Barney LLC will handle distribution.
The notes are expected to price on March 14.
The Cusip number is 48127E528.
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