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JPMorgan plans contingent interest autocallables tied to two indexes
By Susanna Moon
Chicago, Sept. 31 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due Dec. 29, 2017 linked to lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 6% to 8% if each index closes at or above its coupon barrier level, 70% of its initial level, on the review date for that quarter. The exact coupon will be set at pricing.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any review date other than the first and final dates.
The payout at maturity will be par unless either index finishes below its 70% trigger level, in which case investors will be fully exposed to any losses of the worse performing index.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
The notes will price on Sept. 27 and settle on Sept. 30.
The Cusip number is 46646EXW7.
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