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JPMorgan plans contingent yield trigger autocallables on index, ETF
By Marisa Wong
Morgantown, W.Va., Dec. 19 – JPMorgan Chase Financial Co. LLC plans to price trigger autocallable contingent yield notes due Dec. 24, 2020 linked to the iShares MSCI Emerging Markets exchange-traded fund 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 at least 9.25% if each underlying closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par if each underlying closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par plus any coupon unless either underlying finishes below the 70% downside threshold level, in which case investors will lose 1% for each 1% decline of the worse performing underlying from its initial level.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
The notes will price on Dec. 20.
The Cusip number is 48129K530.
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