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JPMorgan plans 8.75% contingent income autocalls on three indexes
New York, June 26 – JPMorgan Chase Financial Co. LLC plans to price 8.75% contingent income autocallable securities due Jan. 4, 2021 linked to the worst performing of the Russell 2000 index, the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of at least 8.75% if each index closes at or above its 80% coupon barrier on the review date for that quarter. The exact coupon will be set at pricing.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly determination date other than the final date.
The payout at maturity will be par unless any index finishes below its 70% downside threshold, in which case investors will be fully exposed to any losses of the worst performing index.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent with Morgan Stanley Smith Barney LLC handling distribution.
The notes will price on June 29 and settle three business days later.
The Cusip number is 48129M4V5.
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