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JPMorgan plans contingent interest autocallables tied to S&P, Russell
By Tali Rackner
Minneapolis, Aug. 21 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due May 26, 2022 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 will be guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of at least 5.5% if each index closes at or above its 80% interest barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon 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 value, in which case investors will be fully exposed to any losses of the lesser-performing index.
J.P. Morgan Securities LLC is the agent.
The notes will price on Aug. 22 and settle on Aug. 25.
The Cusip number is 46647MR54.
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