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JPMorgan plans contingent interest callable notes tied to three indexes
By Susanna Moon
Chicago, Oct. 25 – JPMorgan Chase Financial Co. LLC plans to price callable contingent interest notes due Nov. 4, 2019 linked to the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 8.5% to 9.5% if each index closes at or above its coupon barrier, 65% of its initial level, on the observation date for that quarter.
The notes are callable at par on any interest payment date other than the final date.
The payout at maturity will be par unless any index falls and either index ever closes below its 60% trigger level during the life of the notes, in which case investors will be fully exposed to any losses of the worst performing index.
J.P. Morgan Securities LLC is the agent.
The notes will price on Oct. 27 and settle on Nov. 3.
The Cusip number is 46646E2P6.
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