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JPMorgan plans contingent coupon callable yield notes on three indexes
By Toni Weeks
San Luis Obispo, Calif., June 12 - JPMorgan Chase & Co. plans to price contingent coupon callable yield notes due June 19, 2015 linked to the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annualized rate of at least 7.65% if each of the underlying components close at or above the 65% barrier level on the observation date for that quarter. The actual coupon will be set at pricing.
The notes are callable at par plus the contingent coupon on any interest payment date other than the last one.
The payout at maturity will be par unless any index finishes below its 65% knock-in level, in which case investors will receive par plus the return of the worst-performing index.
J.P. Morgan Securities LLC is the agent.
The notes (Cusip: 48126NES2) will price June 14 and settle June 19.
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