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JPMorgan plans to price callable yield notes tied to S&P 500, Russell
By Wendy Van Sickle
Columbus, Ohio, March 1 – JPMorgan Chase & Co. plans to price callable yield notes due April 3, 2017 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 at an annual rate between 9% and 11%.
The notes will be callable at par on July 5, Oct. 3, 2016 and Jan. 4, 2017.
The payout at maturity will be par unless either index closes below its initial level and either index has closed below its 70% trigger value on any day during the life of the notes, in which case investors will be fully exposed any losses of the worse performing index.
J.P. Morgan Securities LLC is the agent.
The notes will price on March 28 and settle on March 31.
The Cusip number is 48128GPS3.
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