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JPMorgan plans contingent coupon callable yield notes tied to indexes
By Susanna Moon
Chicago, Feb. 5 – JPMorgan Chase & Co. plans to price contingent coupon callable yield notes due Aug. 11, 2016 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annualized rate of at least 8.75% if each underlying component closes at or above its 70% barrier level on the observation date for that quarter. The exact coupon will be set at pricing.
The notes are callable at par plus the contingent coupon, if any, on any interest payment date other than the final date.
The payout at maturity will be par unless either index or the fund finishes below its 70% knock-in level, in which case investors will receive par plus the return of the worst performing component.
J.P. Morgan Securities LLC is the agent.
The notes will price on Feb. 6 and settle on Feb. 11.
The Cusip number is 48125UBW1.
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