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JPMorgan plans contingent interest autocallables tied to S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Feb. 9 – JPMorgan Chase Financial Co. LLC plans to price callable contingent interest notes due Aug. 31, 2018 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 will be guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 6% to 8% if each index closes at or above its barrier level, 70% of its initial level, on a quarterly review date, with the exact rate to be set at pricing.
The notes will be called at par if the closing level of each index is at or above its initial level on any review date other than the final date.
The payout at maturity will be par unless either index finishes below its initial level and either index has closed below its 70% barrier level any day during the life of the notes, in which case investors will be fully exposed to any losses of the worse performing index.
J.P. Morgan Securities LLC is the agent.
The notes will price on Feb. 23 and settle on Feb. 28.
The Cusip number is 46646QYF6.
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