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JPMorgan to price contingent coupon callable yield notes linked to EM ETF, S&P 500, Euro Stoxx 50
By Angela McDaniels
Tacoma, Wash., Nov. 5 – JPMorgan Chase & Co. plans to price contingent coupon callable yield notes due Nov. 29, 2017 linked to the S&P 500 index, the Euro Stoxx 50 index and the iShares MSCI Emerging Markets exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon if each underlying component closes at or above its barrier level, 65% of its initial level, on the observation date for that quarter. The contingent coupon rate is expected to be at least 8% per year and will be set at pricing.
The payout at maturity will be par unless any underlying component finishes below its barrier level, in which case investors will be fully exposed to the decline of the least-performing underlying component.
The notes will be callable at par on any interest payment date other than the final one.
J.P. Morgan Securities LLC is the agent.
The notes are expected to price Nov. 24 and settle Nov. 28.
The Cusip number is 48127DT99.
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