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JPMorgan plans contingent interest autocallables linked to Gold Miners
By Susanna Moon
Chicago, Nov. 12 – JPMorgan Chase & Co. plans to price autocallable contingent interest notes due Nov. 24, 2015 linked to the Market Vectors Gold Miners exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9.5% to 11.5% if the fund closes at or above its 60% interest barrier level on a review date for that quarter.
The notes will be called at par plus the contingent coupon if the fund closes at or above its initial level on the second, third or fourth quarterly review date.
A trigger event will occur if the fund closes below its trigger level, 70% of its initial level, during the life of the notes.
If the notes are not called and a trigger event has not occurred or the fund finishes at or above its initial level, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will be fully exposed to any losses.
J.P. Morgan Securities LLC is the agent.
The notes will price on Nov. 19 and settle on Nov. 24.
The Cusip number is 48127DV47.
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