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JPMorgan plans callable contingent interest notes linked to indexes
By Angela McDaniels
Tacoma, Wash., Oct. 9 – JPMorgan Chase & Co. plans to price callable contingent interest notes due Nov. 4, 2019 linked to the lesser performing of the Russell 2000 index and the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon if each index closes at or above its barrier level, 65% of its initial level, on the review date for that quarter. The contingent coupon rate is expected to be at least 8% per year and will be set at pricing.
The notes will be callable at par plus the contingent coupon on any interest payment date other than the final interest payment date.
If the notes have not been called, the payout at maturity will be par unless either index finishes below its barrier level, in which case investors will be fully exposed to the decline of the lesser-performing index.
J.P. Morgan Securities LLC is the agent.
The notes will price Oct. 27 and settle Oct. 30.
The Cusip number is 48128GAB6.
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