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JPMorgan to price autocallable contingent interest notes on oil index
By Wendy Van Sickle
Columbus, Ohio, March 1 – JPMorgan Chase & Co. plans to price autocallable contingent interest notes due March 20, 2020 linked to the S&P GSCI Crude Oil Index Excess Return, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at a rate of 8% to 10% per year if the index closes at or above the interest barrier level, 60% of the initial share price, on the review date for that quarter. The exact coupon will be set at pricing.
The notes will be automatically called at par plus the contingent coupon if the index closes at or above the initial share price on any review date other than the first, second, third and final review dates.
The payout at maturity will be par plus the final contingent interest payment unless the final index level is less than the 60% trigger level, in which case investors will be fully exposed to the index’s decline.
J.P. Morgan Securities LLC is the agent.
The notes will price on March 16 and settle on March 21.
The Cusip number is 48128GQQ6.
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