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JPMorgan plans contingent interest autocallables on S&P 500, Nasdaq
By Susanna Moon
Chicago, Sept. 11 – JPMorgan Chase & Co. plans to price autocallable contingent interest notes due Dec. 30, 2016 linked to the lesser performing of the S&P 500 index and the Nasdaq 100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10.4% if each index closes at or above its coupon barrier level, 70% of its initial level, on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly 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 its 70% 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 Sept. 25 and settle on Sept. 30.
The Cusip is 48125U4B5.
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