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JPMorgan plans contingent interest notes linked to indexes, fund
By Angela McDaniels
Tacoma, Wash., March 19 - JPMorgan Chase & Co. plans to price callable contingent interest notes due Sept. 28, 2015 linked to the S&P 500 index, the Russell 2000 index and the iShares MSCI EAFE index fund, according to an FWP filing with the Securities and Exchange Commission.
If each underlying component closes at or above its trigger level, 60% of its initial level, on a quarterly review date, the notes will pay a coupon that quarter at an annualized rate of at least 7.7%. The exact rate will be set at pricing.
The notes are callable at par plus the contingent coupon, if any, on any interest payment date other than the final one.
If the notes are not called, the payout at maturity will be par plus the contingent coupon unless any underlying component closes below its trigger level during the life of the notes and any underlying component finishes below its initial level, in which case investors will be fully exposed to the decline of the worst-performing component.
J.P. Morgan Securities LLC is the agent.
The notes will price on or about March 22 and will settle on or about March 27.
The Cusip number is 48126DE70.
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