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JPMorgan plans 10% contingent interest autocallables on Anadarko
New York, April 24 – JPMorgan Chase Financial Co. LLC plans to price 10% autocallable contingent interest notes due May 15, 2019 linked to Anadarko Petroleum Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10% if the stock closes at or above its 66.3% coupon barrier on the review date for that quarter. If the stock closes at or above the coupon barrier, the notes will also pay any previously unpaid contingent interest payments.
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 66.3% trigger level, in which case investors will be fully exposed to any losses.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
The notes are expected to price on April 27 and settle on May 2.
The Cusip number is 48129MB88.
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