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JPMorgan plans contingent interest autocallables tied to S&P, Russell
By Susanna Moon
Chicago, Jan. 10 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due April 30, 2018 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 7.25% to 9.25% if each index closes at or above its coupon barrier level, 67.5% of its initial level, on the review date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any review date other than the first and final dates.
The payout at maturity will be par unless either index finishes below its initial level and either index ever closes below the 67.5% trigger level during the life of the notes, in which case investors will be fully exposed to any losses of the worse performing index.
J.P. Morgan Securities LLC is the agent.
The notes will price on Jan. 26 and settle on Jan. 31.
The Cusip number is 46646QJG1.
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