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JPMorgan plans contingent interest autocallables linked to Apple
By Susanna Moon
Chicago, April 26 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due May 17, 2017 linked to Apple Inc. shares, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 10% if the stock closes at or above its coupon barrier level, 79.65% of its initial level, on the review date for that quarter.
The notes will be called at par plus the contingent coupon if Apple stock closes at or above its initial level on any review date other than the final date.
The payout at maturity will be par unless Apple stock finishes below its 79.65% trigger level, in which case investors will be fully exposed to the losses.
J.P. Morgan Securities LLC is the agent.
The notes will price on April 29 and settle on May 4.
The Cusip number is 48128GWV8.
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