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JPMorgan plans three-year review notes on S&P 500, Euro Stoxx 50
By Jennifer Chiou
New York, July 2 – JPMorgan Chase & Co. plans to price 0% review notes due Aug. 2, 2017 linked to the lesser performing of the S&P 500 index and the Euro Stoxx 50 index, according to an FWP with the Securities and Exchange Commission.
The notes will be automatically called at par plus an annualized call premium of 10% if each index closes at or above its initial index level on any of three annual review dates.
If the notes are not called, the payout at maturity will be par if the final level of each index is at least 75% of its initial level. Otherwise, investors will lose 1% for every 1% decline in the lesser-performing index from its initial level.
The notes (Cusip: 48127DRR1) are expected to price on July 28 and settle on July 31.
J.P. Morgan Securities LLC is the agent.
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