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JPMorgan plans contingent income autocallables on S&P GSCI oil index
By Jennifer Chiou
New York, March 4 – JPMorgan Chase & Co. plans to price contingent income autocallable securities due Sept. 17, 2015 linked to the S&P GSCI Crude Oil Index - Excess Return, according to an FWP with the Securities and Exchange Commission.
The notes will pay a contingent monthly payment equal to at least 2.19167% if the index closes at or above the 80% downside threshold level on the observation date for that month.
The notes will be called at par plus the contingent coupon if the index closes at or above 95% of the initial level on any determination date other than the final date.
The payout at maturity will be par plus the final coupon unless the index finishes below the 80% downside threshold level, in which case investors will be exposed to any losses.
The notes (Cusip: 48125UCT7) will price on March 13.
J.P. Morgan Securities LLC is the agent with Morgan Stanley Wealth Management as distributor.
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