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JPMorgan to price autocallable yield notes on ETF, two indexes
By Marisa Wong
Morgantown, W.Va., Aug. 14 – JPMorgan Chase Financial Co. LLC plans to price 6% autocallable yield notes due Nov. 28, 2018 linked to the least performing of the PowerShares QQQ Trust, Series 1, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Interest is payable monthly. The rate will be at least 6% per year and will be set at pricing.
The notes will be called at par plus the coupon if each asset closes at or above its initial level on any quarterly review date other than the final determination date.
The payout at maturity will be par plus the final coupon unless any asset finishes below its initial value and any asset closes below its 67% trigger value on any day during the life of the notes, in which case investors will lose 1% for each 1% decline of the worst performing asset.
J.P. Morgan Securities LLC is the agent.
The notes will price on Aug. 22.
The Cusip number is 46647MZA4.
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