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JPMorgan plans 9.75% contingent interest autocalls tied to two stocks
By Susanna Moon
Chicago, March 22 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due April 1, 2021 linked to the worse performing of the common stocks of Anadarko Petroleum Corp. and Schlumberger NV, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9.75% if each stock closes at or above its 70% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any review date other than the first and final dates.
The payout at maturity will be par unless the stock finishes below its 70% trigger level, in which case investors will be fully exposed to any losses of the worse performing stock.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
The notes will price on March 29.
The Cusip number is 48129MDY9.
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