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JPMorgan plans trigger autocallable contingent yield notes on indexes
By Sarah Lizee
Olympia, Wash., July 22 – JPMorgan Chase Financial Co. LLC plans to price trigger autocallable contingent yield notes due Aug. 3, 2022 linked to the Euro Stoxx 50 index and the Russell 2000 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 that is expected to fall between 6% and 6.8% if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter. The exact coupon will be set at pricing.
The notes will be called at par plus the coupon if each index closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par plus the final coupon unless either index finishes below the 70% downside threshold level, in which case investors will lose 1% for every 1% decline of the worse performing index from its initial level.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
The notes (Cusip: 48132E257) will price on July 29.
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