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JPMorgan plans five-year step-up autocallables on S&P Economic Cycle
By Devika Patel
Knoxville, Tenn., Sept. 21 – JPMorgan Chase Financial Co. LLC plans to price step-up autocallable notes due Sept. 28, 2023 linked to the S&P Economic Cycle Factor Rotator index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
The notes will be called at par plus an annualized call premium of at least 8.5% if the index closes at or above its applicable call value on any of the first four annual observation dates beginning on Sept. 24, 2019. The exact call premium will be set at pricing.
The call value is 102% for the first review date, 104% for the second review date, 106% for the third review date and 108% for the fourth review date.
If the index finishes above its initial level, the payout at maturity will be par plus the index gain.
Otherwise, investors will receive par.
J.P. Morgan Securities LLC is the agent.
The notes (Cusip: 48130UMA0) will price on Sept. 24 and settle on Sept. 27.
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