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JPMorgan plans capped contingent trigger equity notes tied to S&P 500
By Toni Weeks
San Luis Obispo, Calif., Aug. 2 - JPMorgan Chase & Co. plans to price capped contingent trigger equity notes with contingent interest due Aug. 21, 2017 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index closes at or above the initial level on any annual review date, investors will receive a contingent interest payment of 1.5% to 1.75%. The exact contingent coupon will be set at pricing.
If the final index level is greater than the initial level, the payout at maturity will be par plus the index gain, subject to a maximum return of 40%.
If the index return is zero or negative and the final level is at least 75% of the initial level, the payout will be par. Otherwise, investors will lose 1% for every 1% decline below the initial level.
J.P. Morgan Securities LLC is the agent.
The notes are expected to price Aug. 16 and settle Aug. 21.
The Cusip number is 48126NMJ3.
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