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JPMorgan plans step-up autocallables due 2026 on S&P Economic Cycle
By Sarah Lizee
Olympia, Wash., Jan. 7 – JPMorgan Chase Financial Co. LLC plans to price 0% step-up autocallable notes due Jan. 20, 2026 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 an annual call premium of at least 7% per year up to at least 42% on Jan. 14, 2025 if the index closes at or above its applicable call value on any of the six annual observation dates beginning on Jan. 14, 2020. The exact call premium will be set at pricing.
The call value is 101.8% for the first review date stepping up by 180 basis points per year to 110.8% for the final review date on Jan. 14, 2020.
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: 48130WNJ6) will price on Jan. 14.
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