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JPMorgan to price step-up autocallables linked to economic cycle index
By Sarah Lizee
Olympia, Wash., May 8 – JPMorgan Chase Financial Co. LLC plans to price 0% step-up autocallable notes due May 18, 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 automatically called at par plus a call premium if the index closes at or above its call value on any annual review date. The call premium is expected to be at least 7% per year.
The call value will be at most 103.05% of the initial index level on the first review date and will increase by at most 305 basis points per year. The exact terms will be set at pricing.
If the notes have not been automatically called, the payout at maturity will be par plus the index return, subject to a minimum payout of par.
J.P. Morgan Securities LLC is the agent.
The notes will price May 13.
The Cusip number is 48132CGN7.
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