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JPMorgan plans contingent interest autocallables tied to Pioneer Natural
By Susanna Moon
Chicago, Aug. 17 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due Sept. 6, 2018 linked to Pioneer Natural Resources Co. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10% if the stock closes at or above its 64% coupon barrier on the review date for that quarter.
The notes will be called at par if the stock closes at or above its initial share price on any review date other than the final date.
The payout at maturity will be par unless the stock finishes below its 64% trigger level, in which case investors will be fully exposed to any losses.
The notes will be guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
The notes will price on Aug. 18 and settle on Aug. 23.
The Cusip number is 46647MQ71.
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