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JPMorgan plans range accrual notes tied to S&P 500, six-month Libor
By Marisa Wong
Madison, Wis., March 27 - JPMorgan Chase & Co. plans to price callable range accrual notes due April 16, 2027 linked to the S&P 500 index and six-month Libor, according to an FWP filing with the Securities and Exchange Commission.
Interest will accrue at 7% multiplied by the proportion of days on which the index closes at or above 1,125 and six-month Libor is 6% or less. Interest will be payable quarterly.
The payout at maturity will be par.
After one year, the notes will be callable at par on any interest payment date.
J.P. Morgan Securities LLC is the agent.
The notes (Cusip: 48125VUE8) will price April 11 and settle April 16.
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