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JPMorgan to price contingent income autocalls tied to General Motors
By Sarah Lizee
Olympia, Wash., Nov. 8 – JPMorgan Chase Financial Co. LLC plans to price contingent income autocallable securities due Nov. 21, 2019 linked to General Motors Co. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annualized rate of 9.75% if the stock closes at or above the 70% downside threshold on the determination 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 determination date other than the final date.
The payout at maturity will be par unless the stock finishes below its 70% downside threshold, in which case investors will lose 1% for each 1% decline.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent. Morgan Stanley Wealth Management is handling distribution.
The notes will price on Nov. 16 and settle on Nov. 21.
The Cusip number is 48130V392.
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