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JPMorgan plans contingent interest autocallables on Western Digital
By Wendy Van Sickle
Columbus, Ohio, Jan. 26 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due Feb. 14, 2018 linked to Western Digital Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 11.4% if the stock closes at or above its coupon barrier, 60% of its initial level, on the review date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any review date other than the final date.
The payout at maturity will be par unless the stock finishes below its 60% trigger level, in which case investors will be fully exposed to any losses.
J.P. Morgan Securities LLC is the agent.
The notes will settle on Jan. 27.
The Cusip number is 46646QWD3.
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