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JPMorgan plans 6.35% autocallable yield notes linked to S&P, Russell
By Sarah Lizee
Olympia, Wash., Oct. 28 – JPMorgan Chase Financial Co. LLC plans to price 6.35% autocallable yield notes due Jan. 27, 2021 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.
Interest is payable quarterly.
The notes will be automatically called at par plus the interest payment if each index closes at or above its initial level on any quarterly review date other than the final one.
The payout at maturity will be par plus the final interest payment unless either index finishes below its initial level and any index closes below its trigger level, 75% of its initial level, on any day during the life of the notes, in which case investors will lose 1% for every 1% decline of the lesser performing index.
J.P. Morgan Securities LLC is the agent.
The notes will price on Oct. 30.
The Cusip number is 48132FZM1.
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