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JPMorgan plans contingent interest autocallables linked to Weatherford
By Susanna Moon
Chicago, March 11 - JPMorgan Chase & Co. plans to price autocallable contingent interest notes due April 1, 2015 linked to the registered shares of Weatherford International Ltd., according to an FWP filing with the Securities and Exchange Commission.
If Weatherford shares close at or above the trigger level, 80% of the initial share price, on a quarterly review date, the notes will pay a coupon at an annual rate of 13.25% for that quarter.
The notes will be called at par plus the contingent coupon if Weatherford shares close at or above the initial share price on any quarterly review date other than the final review date.
If the notes have not been called and the stock finishes at or above the trigger level, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will be fully exposed to any losses.
J.P. Morgan Securities LLC is the agent.
The notes are expected to price on March 14 and settle on March 19.
The Cusip number is 48127DBL1.
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