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JPMorgan plans contingent interest autocallables on S&P 500, Russell
By Susanna Moon
Chicago, July 5 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due Oct. 31, 2017 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 7.25% to 9.25% if each index closes above its 70% interest barrier on the observation date for that quarter. The exact coupon will be set at pricing.
The notes will be called at par if each index closes at or above its initial level on any quarterly review date other than the first and final dates.
The payout at maturity will be par unless either index finishes below its 70% trigger level, in which case investors will be fully exposed any losses in the worse performing index.
J.P. Morgan Securities LLC is the agent.
The notes will price on July 26 and settle on July 29.
The Cusip number is 46646EMF6.
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