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JPMorgan plans 8% contingent interest autocallables tied to AbbVie
By Susanna Moon
Chicago, April 18 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due July 31, 2019 linked to AbbVie Inc. 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 8% if the stock closes at or above its 60% coupon barrier on the review date for that quarter.
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 first and final dates.
The payout at maturity will be par unless the stock finishes below its initial level and ever closes below its 60% trigger level during the life of the notes, 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.
The Cusip number is 48129MNG7.
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