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JPMorgan plans to price autocallable securities linked to S&P 500
By Angela McDaniels
Tacoma, Wash., July 25 – JPMorgan Chase Financial Co. LLC plans to price 0% autocallable securities due Aug. 3, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
The notes will be redeemed at par of $10 plus an annual call premium of 7.5% if the index closes at or above the initial index level on any of four annual determination dates.
If the index finishes at or above its initial level, the payout at maturity will be par plus 37.5%. Investors will receive par if the index falls by up to 15% and will have one-to-one exposure to the index’s decline from its initial level if it falls beyond 15%.
J.P. Morgan Securities LLC is the agent. Distribution is through Morgan Stanley Smith Barney LLC.
The notes will price July 29.
The Cusip number is 46646X308.
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