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JPMorgan plans autocallable contingent interest notes on Halliburton
By Toni Weeks
San Diego, April 17 - JPMorgan Chase & Co. plans to price autocallable contingent interest notes due May 8, 2013 linked to the common stock of Halliburton Co., according to an FWP filing with the Securities and Exchange Commission.
If the stock closes at or above the 75% interest barrier on any review date, the notes will pay a coupon that quarter at an annualized rate of 17.4%. Otherwise, no coupon will be paid for that quarter.
If the stock closes at or above the initial share price on any review date other than the final review date, the notes will be called at par plus the coupon.
If the notes have not been called and the stock finishes at or above the trigger level - 75% of the initial stock price - the payout at maturity will be par plus the coupon.
Otherwise, investors will be fully exposed to any losses.
The notes (Cusip: 48125VVN7) are expected to price April 20 and settle April 25.
J.P. Morgan Securities LLC is the underwriter.
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