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JPMorgan plans contingent interest autocallables on Juno Therapeutics
By Susanna Moon
Chicago, July 22 – JPMorgan Chase & Co. plans to price autocallable contingent interest notes due Aug. 10, 2016 linked to Juno Therapeutics, Inc. shares, according to an FWP filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 31% if Juno shares close at or above the barrier level, 70% of the initial share price, on the review date for that quarter.
The notes will be called at par plus the contingent coupon if Juno shares close at or above the initial share price on any review date other than the final review date.
The payout at maturity will be par plus the final contingent interest payment unless Juno stock finishes below the 70% trigger level, in which case investors will receive par plus the return with full exposure to any losses.
J.P. Morgan Securities LLC is the agent.
The notes will price on July 24 and settle on July 29.
The Cusip number is 48125UC26.
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