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JPMorgan plans callable contingent interest notes tied to indexes, ETF
By Angela McDaniels
Tacoma, Wash., May 22 – JPMorgan Chase Financial Co. LLC plans to price callable contingent interest notes due Nov. 29, 2019 linked to the least performing of the S&P 500 index, the Russell 2000 index and the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon if each underlier closes at or above its interest barrier, 75% of its initial level, on the review date for that quarter. The contingent coupon rate is expected to be at least 6% per year and will be set at pricing.
The notes will be callable at par plus the contingent coupon on any interest payment date other than the first, second, third and final interest payment dates.
If the notes have not been called, the payout at maturity will be par unless any underlier finishes below its trigger value, 60% of its initial level, in which case investors will be fully exposed to the decline of the least-performing underlier.
J.P. Morgan Securities LLC is the agent.
The notes will price May 23.
The Cusip number is 46647MDF7.
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