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JPMorgan plans contingent coupon callable yield notes on Halliburton
By Jennifer Chiou
New York, Oct. 30 – JPMorgan Chase & Co. plans to price contingent coupon callable yield notes due Nov. 3, 2016 linked to Halliburton Co. shares, according to an FWP with the Securities and Exchange Commission.
If the stock closes at or above its barrier level, 70% of its initial level, on a quarterly observation date, the notes will pay a coupon at an annualized rate of at least 10% for that quarter.
The payout at maturity will be par plus the contingent coupon unless Halliburton stock finishes below its barrier level, in which case investors will be fully exposed to any losses.
The notes are callable at par on any interest payment date other than the final payment date.
The notes (Cusip: 48127DR42) will price on Oct. 31 and settle on Nov. 5.
J.P. Morgan Securities LLC is the agent.
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