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JPMorgan plans contingent interest notes linked to three indexes
By Angela McDaniels
Tacoma, Wash., Jan. 10 – JPMorgan Chase Financial Co. LLC plans to price callable contingent interest notes due Jan. 21, 2025 linked to the least performing of the Dow Jones industrial average, the Russell 2000 index and 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.
If each index closes at or above its trigger value, 70% of its initial level, on a semiannual review date, the notes will pay a contingent coupon plus any previously unpaid contingent coupons for any prior review dates. The contingent coupon rate is expected to be at least 8% per year and will be set at pricing.
The notes will be callable at par on any interest payment date other than the final interest payment date.
If the notes have not been called, the payout at maturity will be par unless any index finishes below its trigger value, in which case investors will be fully exposed to the decline of the least-performing index.
J.P. Morgan Securities LLC is the agent.
The notes will price Jan. 11.
The Cusip number is 48130WRZ6.
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