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JPMorgan plans contingent interest autocallables tied to two indexes
By Susanna Moon
Chicago, Nov. 14 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due Nov. 26, 2021 linked to the lesser performing of the S&P 500 index and the S&P GSCI Crude Oil Index Excess Return, 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 10.35% to 12.35% if each index closes at or above its coupon barrier level, 60% of its initial level, on the review date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any review date other than the first, second, third and final dates.
The payout at maturity will be par unless either index finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worse performing index.
J.P. Morgan Securities LLC is the agent.
The notes will price on Nov. 21 and settle on Nov. 25.
The Cusip number is 46646E7D8.
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