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JPMorgan plans autocallable contingent interest notes on Russell, fund
By Marisa Wong
Madison, Wis., March 3 - JPMorgan Chase & Co. plans to price autocallable contingent interest notes due March 31, 2015 linked to the Russell 2000 index and the iShares MSCI Brazil Capped exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.
If each underlying component closes at or above the 70% barrier level on a quarterly review date, the notes will pay a coupon at an annual rate of 8% to 10% for that quarter. The exact rate will be set at pricing.
If each underlying component closes at or above its initial level on any review date other than the final review date, the notes will be called at par plus the coupon.
The payout at maturity will be par unless either underlying component falls and either underlying component ever closes below the 70% trigger level during the life of the notes, in which case investors will be fully exposed to any losses of the worse performing component.
J.P. Morgan Securities LLC is the agent.
The notes will price March 26 and settle March 31.
The Cusip number is 48127DAC2.
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