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JPMorgan plans contingent interest autocalls tied to three stocks
By Sarah Lizee
Olympia, Wash., July 17 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due July 26, 2023 linked to the least performing of the common stocks of UnitedHealth Group Inc., Centene Corp. and MetLife, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each month, the notes will pay a contingent coupon at the rate of 14.25% per year if each stock closes at or above its interest barrier, 50% of its initial share price, on the review date for that period.
The notes will be automatically called at par plus the contingent coupon if each stock closes at or above its initial share price on any quarterly review date after six months.
If the notes have not been called, the payout at maturity will be par unless any stock finishes below its trigger level, 55% of its initial level, in which case investors will lose 1% for every 1% that the least-performing stock finishes below its initial share price.
J.P. Morgan Securities LLC is the agent.
The notes will price on July 21.
The Cusip number is 48132MSD4.
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