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JPMorgan plans contingent interest autocallables tied to two indexes
By Tali Rackner
Minneapolis, Sept. 20 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due Sept. 27, 2018 linked to the lesser performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent monthly coupon at an annual rate of at least 7.5% if each index closes at or above its 70% interest barrier on the determination date for that month.
The notes will be called at par if each index closes at or above its initial level on any quarterly determination date other than the first five and final dates.
The payout will be par unless either index finishes below its initial level and ever closes below its 70% trigger level during the life of the notes, in which case investors will be fully exposed to any losses of the lesser-performing index.
J.P. Morgan Securities LLC is the agent.
The notes will price on Sept. 22 and settle on Sept. 27.
The Cusip number is 48129HAE7.
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