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JPMorgan plans contingent interest callable notes tied to two indexes
By Susanna Moon
Chicago, Nov. 12 – JPMorgan Chase & Co. plans to price callable contingent interest notes due Dec. 3, 2019 linked to the worst performing of the S&P 500 index and the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 6.4% if each index closes at or above its coupon barrier, 65% of its initial share price, on the review date for that quarter.
The notes may be redeemed at par on any of interest payment date other than the final date.
The payout at maturity will be par plus the contingent coupon unless either index finishes below its 65% trigger level, in which case investors will be fully exposed to any losses of the worst performing index.
J.P. Morgan Securities LLC is the agent.
The notes will price on Nov. 24 and settle on Nov. 30.
The Cusip number is 48128GCR9.
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