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JPMorgan plans callable contingent interest notes on S&P 500, Russell
By Susanna Moon
Chicago, June 12 - JPMorgan Chase & Co. plans to price callable contingent interest notes due June 30, 2028 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
If each component closes at or above its 60% barrier level on a quarterly review date, the notes will pay a coupon at an annualized rate of at least 7.1% for that quarter. The exact contingent coupon will be set at pricing.
The notes are callable at par plus the contingent coupon on any interest payment date other than the first, second, third and final date.
The payout at maturity will be par plus the contingent coupon unless either index finishes below the 50% trigger level, in which case the payout will be par plus the return of the lesser performing component with full exposure to any losses.
J.P. Morgan Securities LLC is the agent.
The notes will price on June 26 and settle on June 28.
The Cusip number is 48126NEP8.
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