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JPMorgan plans three-year jump notes with autocall tied to Macy’s
By Susanna Moon
Chicago, Nov. 28 – JPMorgan Chase Financial Co. LLC plans to price 0% jump securities with autocallable feature due Dec. 3, 2020 linked to Macy’s, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual premium of at least 17% if the stock closes at or above its 90% redemption threshold on any quarterly determination date than the final date.
If the notes have not been called, the payout at maturity will be par unless the stock finishes below its 90% downside threshold, in which case investors will be fully exposed to any losses.
The notes will be guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent with Morgan Stanley Wealth Management handling distribution.
The notes will price on Nov. 30.
The Cusip number is 48129K761.
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