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JPMorgan to price contingent interest autocallables linked to indexes
By Angela McDaniels
Tacoma, Wash., Aug. 3 – JPMorgan Chase & Co. plans to price autocallable contingent interest notes due Aug. 19, 2025 linked to the lesser performing of the Russell 2000 index and the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon if each index closes at or above its barrier level, 70% of its initial level, on the review date for that quarter. The contingent coupon rate is expected to be at least 8.6% per year and will be set at pricing.
The notes will be automatically 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, second, third and final review dates.
If the notes have not been called, the payout at maturity will be par unless either index finishes below its trigger value, 50% of its initial level, in which case investors will be fully exposed to the decline of the lesser-performing index.
J.P. Morgan Securities LLC is the agent.
The notes will price Aug. 14 and settle Aug. 19.
The Cusip number is 48125UH70.
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