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JPMorgan plans contingent income autocallable notes on Bristol-Myers
By Wendy Van Sickle
Columbus, Ohio, Oct. 13 – JPMorgan Chase Financial Co. LLC plans to price contingent income autocallable securities due Oct 24, 2019 linked to Bristol-Myers Squibb Co. common shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annualized rate of at least 9.85% if Bristol-Myers stock closes at or above its 80% downside threshold level on the observation date for that quarter.
The notes will be redeemed at par of $10 plus the contingent payment if the stock closes at or above 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 stock finishes below the downside threshold level, in which case investors will lose 1% for every 1% that the final share price is less than the initial share price.
J.P. Morgan Securities LLC is the agent.
The notes (Cusip: 46646X142) will price on Oct. 21 and settle three business days after pricing.
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