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JPMorgan plans callable contingent interest notes due 2020 on indexes
By Tali Rackner
Norfolk, Va., July 13 – JPMorgan Chase Financial Co. LLC plans to price callable contingent interest notes due July 29, 2020 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay contingent semiannual interest at an annual rate of between 5.25% and 6.25% if each index closes above its 50% interest barrier on the observation date for that period. The exact coupon will be set at pricing.
The notes are callable at par on any semiannual review date other than the final date.
The payout at maturity will be par unless any index finishes below its 50% trigger level, in which case investors will be fully exposed any losses in the lesser-performing index.
J.P. Morgan Securities LLC is the agent.
The notes will price on July 22 and settle on July 29.
The Cusip number is 46646ELE0.
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