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JPMorgan plans contingent absolute return autocallables tied to HCA
By Toni Weeks
San Luis Obispo, Calif., March 11 – JPMorgan Chase & Co. plans to price 0% contingent absolute return autocallable optimization securities due March 21, 2016 linked to HCA Holdings, Inc. shares, according to an FWP with the Securities and Exchange Commission.
The notes will be called at par plus an annualized call premium of 9% to 11% if HCA stock closes at or above the initial share price on any quarterly observation date. The exact call premium will be set at pricing.
If the notes are not called and the final share price is at or above the 80% trigger level, the payout at maturity will be par plus the absolute value of the return. Otherwise, investors will be fully exposed to the decline in the share price from the initial price.
The notes (Cusip: 48127T871) will price March 13 and settle March 18.
J.P. Morgan Securities LLC and UBS Financial Services Inc. are the underwriters.
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