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JPMorgan to price contingent interest autocalls on indexes
By Sarah Lizee
Olympia, Wash., June 12 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due June 18, 2021 tied to the least performing of the Nasdaq-100 index, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 15.7% per year if each index closes at or above its interest barrier level, 70% of its initial level, on the review date for that quarter.
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 autocall review date other than the final one.
If the notes have not been called, the payout at maturity will be par unless any index finishes below its initial level and nay index has ever closed below its 60% trigger level 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.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
The notes will price on June 15.
The Cusip number is 48132MJU6.
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