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JPMorgan eyes contingent interest autocalls on CVS, Walgreens
By Sarah Lizee
Olympia, Wash., April 12 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due April 21, 2022 linked to the least performing of the common stocks of CVS Health Corp. and Walgreens Boots Alliance, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of at least 11.65% if each stock closes at or above its 60% 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 quarterly review date other than the first, second, third and final ones.
The payout at maturity will be par unless either underlying stock finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worst performing stock.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
The notes will price on April 15.
The Cusip number is 48132CBU6.
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