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JPMorgan plans trigger phoenix autocallables on Euro Stoxx, Russell
By Toni Weeks
San Luis Obispo, Calif., June 24 – JPMorgan Chase & Co. plans to price trigger phoenix autocallable optimization securities due June 30, 2025 linked to the lesser performing of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.25% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation 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 quarterly observation date beginning after one year.
If the notes are not called and each index finishes at or above its 50% trigger level, the payout at maturity will be par plus the contingent coupon, if any. Otherwise, investors will be fully exposed to any losses of the worst-performing index.
The notes (Cusip: 48127X252) are expected to price June 25 and settle June 30.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
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