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JPMorgan plans autocallable contingent interest notes linked to GE
By Susanna Moon
Chicago, May 30 - JPMorgan Chase & Co. plans to price autocallable contingent interest notes due June 19, 2013 linked to General Electric Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
If the stock closes at or above the 80% barrier level on any review date, the notes will pay a coupon that quarter at an annualized rate of 15.7%.
If the stock closes at or above the initial share price on any review date other than the final review date, the notes will be called at par plus the coupon.
If the notes have not been called and the stock finishes at or above the 80% trigger level the payout at maturity will be par plus the coupon.
Otherwise, investors will be fully exposed to any losses.
J.P. Morgan Securities LLC is the agent.
The notes will price on June 1 and settle on June 6.
The Cusip number is 48125VA75.
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