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JPMorgan aims to price autocallables linked to Russell, Stoxx indexes
By Devika Patel
Knoxville, Tenn., June 16 – JPMorgan Chase Financial Co. LLC plans to price 0% autocallable notes due June 25, 2020 linked to the lesser performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
The notes will be automatically called at par of $10 plus a call premium – expected to be at least 12.15% per year – if each index closes at or above its call level on June 27, 2018, June 20, 2019 or June 22, 2020.
For each index, the call level will be equal to the initial index level for the first observation date, 95% of the initial index level for the second call date and 90% of the initial index level for the final call date.
If the notes are not called, the payout at maturity will be par unless either index finishes below its trigger level, 70% of its initial level, in which case investors will lose 1% for each 1% decline of the lesser-performing index from its initial level.
J.P. Morgan Securities LLC is the agent.
The notes (Cusip: 46647MA29) will price on June 20 and settle on June 23.
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