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JPMorgan plans callable contingent interest notes on Dow, Russell
New York, Aug. 7 – JPMorgan Chase Financial Co. LLC plans to price 6.25% to 7.25% callable contingent interest notes due Sept. 4, 2025 linked to the lesser performing of the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 6.25% to 7.25% if both indexes close at or above their interest barriers, 65% of their initial levels, on the review date for the quarter. The exct contingent interest rate will be set at pricing.
JPMorgan may call the notes in whole at par on any interest payment date other than the first, second, third and final ones.
If the notes have not been called, the payout at maturity will be par plus the final interest payment unless either index finishes below its 65% trigger value, 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 will price on Aug. 29 and settle on Aug. 31.
The Cusip number is 48130UBS3.
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