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JPMorgan plans trigger phoenix autocallable notes linked to Amazon.com
By Susanna Moon
Chicago, Nov. 12 – JPMorgan Chase & Co. plans to price trigger phoenix autocallable optimization securities due May 20, 2016 linked to Amazon.com, Inc. shares, according to an FWP filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 11.5% to 13.5% if the stock closes at or above the coupon barrier, 80% of the initial share price, on any observation date for that quarter.
The notes will be called at par if the shares close at or above the initial share price on any quarterly observation date.
The payout at maturity will be par unless the stock finishes below the 80% trigger level, in which case investors will be fully exposed to any losses.
The exact terms will be set at pricing.
J.P. Morgan Securities LLC and UBS Financial Services Inc. are the agents.
The notes will price on Nov. 14 and settle on Nov. 19.
The Cusip number is 48127P762.
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