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JPMorgan plans 8% to 10% autocallable yield notes linked to indexes
By Marisa Wong
Morgantown, W.Va., Oct. 8 – JPMorgan Chase & Co. plans to price 8% to 10% autocallable yield notes due Nov. 1, 2016 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly, with the exact percentage to be set at pricing.
The notes will be called at par if each index closes at or above its initial level on any quarterly review date other than the final review date.
The payout at maturity will be par unless either index closes below its 67.5% trigger level on any day during the life of the notes and either index finishes below its initial level, in which case investors will be fully exposed to the any losses of the worst performing index.
J.P. Morgan Securities LLC is the agent.
The notes will price on Oct. 27 and settle on Oct. 30.
The Cusip number is 48125U6F4.
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