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JPMorgan plans callable contingent interest notes tied to two indexes
By Wendy Van Sickle
Columbus, Ohio, Sept. 30 – JPMorgan Chase Financial Co. LLC plans to price callable contingent interest notes due Oct. 28, 2020 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a semiannual contingent coupon at an annual rate of 5% to 6% if each index closes at or above its 50% interest barrier on the observation date for that period.
The notes are callable at par on any interest payment date other than the final date.
The payout at maturity will be par unless either index finishes below its 50% trigger level, in which case investors will be fully exposed to any losses of the worse performing component.
J.P. Morgan Securities LLC is the agent.
The notes will price Oct. 21.
The Cusip number is 46646EJ94.
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