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JPMorgan to price contingent coupon autocalls on Dow, Nasdaq, Russell
By Sarah Lizee
Olympia, Wash., July 16 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due Oct. 21, 2021 tied to the least performing of the Dow Jones industrial average, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 9% to 11% per year if each index closes at or above its interest barrier level, 70% of its initial level, on the review date for that month.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any monthly autocall review date other than the first, second and final ones.
If the notes have not been called, the payout at maturity will be par unless any index finishes below its initial level and any index has ever closed below its 55% trigger level on any day during the life of the notes, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
The notes will price on July 17.
The Cusip number is 48132MUL3.
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