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JPMorgan to price contingent buffered autocallables on index, ETF
By Sarah Lizee
Olympia, Wash., Nov. 12 – JPMorgan Chase Financial Co. LLC plans to price 0% step-up autocallable contingent buffered equity notes due Nov. 30, 2023 linked to the lesser performing of the Euro Stoxx 50 index and the iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will be automatically called at par of $1,000 plus a 12.25% annual call premium if each asset closes at or above its call level on an annual review date other than the final date. The call level will be at most 102% of the initial level on the first review date and will step up by 2% per year to 108% on the fourth review date.
The payout at maturity will be par plus any gain of the lesser-performing asset.
Investors will receive par if either asset falls by up to 50% and will otherwise lose 1% for each 1% decline of the lesser-performing asset.
J.P. Morgan Securities LLC is the agent.
The Cusip is 48130UW92.
The notes will price on Nov. 27 and settle on Nov. 30.
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