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JPMorgan plans to price quarterly review notes linked to S&P 500
By Toni Weeks
San Diego, July 17 - JPMorgan Chase & Co. plans to price 0% quarterly review notes due Aug. 7, 2013 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus an annualized call premium of at least 10.05% if the index closes at or above the initial index level on any quarterly review date.
If the notes are not called, the payout at maturity will be par if the final index level is at least 90% of the initial index value. Otherwise, investors will lose 1.1111% for every 1% that the index declines beyond the 10% buffer.
The notes (Cusip: 48125VS68) are expected to price July 20 and settle July 25.
J.P. Morgan Securities LLC is the agent.
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