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JPMorgan plans contingent interest autocallables tied to three indexes
By Sarah Lizee
Olympia, Wash., March 6 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due Sept. 30, 2020 linked to the least performing of the Russell 2000 index, the S&P 500 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.
Each month, the notes will pay a contingent coupon at the rate of 7.5% to 9.5% per year if each index closes at or above its trigger value, 70% of its initial level, on the review date for that period. The exact contingent coupon rate 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 review date.
If the notes have not been called, the payout at maturity will be par unless any index closes below its trigger value on any day during the life of the notes, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level.
J.P. Morgan Securities LLC is the agent.
The notes will price March 26.
The Cusip number is 48130W4P3.
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