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JPMorgan plans callable contingent interest notes on three indexes
By Sarah Lizee
Olympia, Wash., Oct. 16 – JPMorgan Chase Financial Co. LLC plans to price callable contingent interest notes due Nov. 3, 2025 linked to the lesser performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 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 quarterly coupon at an annual rate of 7% to 7.5% if each index closes at or above its 65% coupon barrier on the related quarterly determination date.
The notes are callable at par on any quarterly determination date other than the first, second, third and final dates.
The payout will be par unless any index finishes below its 65% trigger level, in which case investors will be fully exposed to any losses of the worst performing index.
J.P. Morgan Securities LLC is the agent.
The notes will price on Oct. 29 and settle on Oct. 31.
The Cusip number is 48130U6B6.
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