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JPMorgan plans contingent coupon callable yield notes on indexes
By Devika Patel
Knoxville, Tenn., Dec. 24 – JPMorgan Chase Financial Co. LLC plans to price contingent coupon callable yield notes due Jan. 2, 2020 linked to the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 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 quarterly coupon at an expected annualized rate of at least 10% if each index closes above its coupon barrier level, 70% of its initial level, on the observation date for that period. The exact coupon will be set at pricing.
Beginning April 1, 2019, the notes are callable in whole but not in part at par on any quarterly coupon payment date other than the final one.
The payout at maturity will be par plus the final coupon unless either of the indexes finishes below its trigger level, 70% of its initial level, in which case investors will lose 1% for each 1% decline of the worse performing index from its initial level.
J.P. Morgan Securities LLC is the agent.
The notes (Cusip: 48130WMN8) will price on Dec. 27 and settle on Jan. 2.
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