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JPMorgan plans 1.5% income barrier notes linked to S&P 500, Russell
By Toni Weeks
San Luis Obispo, Calif., April 10 – JPMorgan Chase & Co. plans to price 1.5% income barrier notes due April 30, 2018 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
Interest is payable quarterly.
If each index finishes at or above its trigger level, 70% of the initial level, the payout at maturity will be par plus the contingent minimum return of 15% to 20%. The exact contingent minimum return will be set at pricing.
Otherwise, investors will receive par plus the return of the lesser-performing index, with full exposure to losses.
J.P. Morgan Securities LLC is the agent.
The notes (Cusip: 48125UNP3) are expected to price April 27 and settle April 30.
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