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JPMorgan plans 9.5%-11.5% upside autocallable reverse exchangeables linked to Marathon Oil
By Toni Weeks
San Luis Obispo, Calif., Jan. 9 – JPMorgan Chase & Co. plans to price 9.5% to 11.5% upside autocallable reverse exchangeable notes due April 26, 2016 linked to the common stock of Marathon Oil Corp., according to an FWP filing with the Securities and Exchange Commission.
Interest is payable monthly. The exact coupon will be set at pricing.
The notes will be called at par plus accrued interest if Marathon Oil stock closes at or above the initial share price on July 21, 2015, Oct. 21, 2015 or Jan. 21, 2016.
The payout at maturity will be par in cash, unless Marathon Oil stock ever closes below the initial price by more than 35% and finishes below the initial share price, in which case investors will receive a number of Marathon Oil shares equal to $1,000 divided by the initial share price or, at JPMorgan’s option, the cash equivalent.
The notes (Cusip: 48127D5V6) are expected to price Jan. 21 and settle Jan. 26.
J.P. Morgan Securities LLC is the agent.
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