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JPMorgan plans contingent return optimization notes linked to Russell
By Angela McDaniels
Tacoma, Wash., Dec. 4 - JPMorgan Chase & Co. plans to price 0% contingent return optimization securities due June 30, 2016 linked to the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
If the final index level is greater than or equal to the trigger level, the payout at maturity will be par of $10 plus the greater of 6% and the index return, subject to a maximum return. If the final index level is less than the trigger level, investors will lose 1% for every 1% that the final level is below the initial level.
The maximum return is expected to be 19% to 25% and will be set at pricing. The trigger level will be 75% of the initial index level.
UBS Financial Services Inc. and J.P. Morgan Securities, LLC are the agents.
The notes are expected to price Dec. 26 and settle Dec. 31.
The Cusip number is 48127A583.
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