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JPMorgan plans 8% contingent interest autocalls on American Airlines
By Sarah Lizee
Olympia, Wash., March 11 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due June 25, 2020 tied to American Airlines Group Inc. common stock, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of at least 8% if the stock closes at or above the 55% coupon barrier on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if the shares close at or above the initial price on a quarterly review date other than the first and final dates.
The payout at maturity will be par plus unless the stock finishes below its initial level and ever closes below the 55% trigger level during the life of the notes, in which case investors will be fully exposed to any losses.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the underwriter.
The notes will price on March 22.
The Cusip number is 48130WD73.
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