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JPMorgan plans trigger autocallable contingent yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, March 24 – JPMorgan Chase Financial Co. LLC plans to price trigger autocallable contingent yield notes due April 2, 2020 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent coupon on a quarter at an annual rate of 7.85% to 8.85% 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 if each index closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par unless either index finishes below the 70% downside threshold, in which case investors will be fully exposed to any losses of the worse performing index.
J.P. Morgan Securities LLC and UBS Financial Services Inc. are the agents.
The notes will price on March 29.
The Cusip number is 48129F630.
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