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JPMorgan to price contingent interest notes on Alerian MLP, VanEck Oil
By Marisa Wong
Morgantown, W.Va., Sept. 20 – JPMorgan Chase Financial Co. LLC plans to price callable contingent interest notes due Sept. 29, 2021 linked to the lesser performing of the Alerian MLP index and the VanEck Vectors Oil Services exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at an annual rate of 7.75% if each underlying closes at or above its coupon barrier, 60% of its initial value, on the review date for that quarter.
The notes will be callable at par plus the contingent coupon, if any, on any interest payment date, other than the first and final payment dates.
If the notes have not been called and each underlying finishes at or above its 60% trigger value, the payout at maturity will be par plus the final coupon. Otherwise investors will lose 1% for each 1% decline of the lesser-performing underlying.
J.P. Morgan Securities LLC is the agent.
The notes will price on Sept. 22.
The Cusip number is 46647M5Z2.
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