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JPMorgan plans 9%-11% callable yield notes linked to S&P 500, Russell
By Susanna Moon
Chicago, Feb. 1 – JPMorgan Chase & Co. plans to price 9% to 11% callable yield notes due March 3, 2017 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.
Interest is payable monthly, with the exact percentage to be set at pricing.
The notes are callable at par on any call review date.
The payout at maturity will be par unless either index closes below its 70% 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 Feb. 24 and settle on Feb. 29.
The Cusip number is 48128GLR9.
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