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JPMorgan plans contingent income autocallables tied to Stoxx Banks
By Susanna Moon
Chicago, Sept. 25 – JPMorgan Chase Financial Co. LLC plans to autocallable contingent income securities due Oct. 3, 2019 linked to the Euro Stoxx Banks index, according to a 424B2 with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10.4% if the index closes at or above its 80% coupon barrier on the determination date for that quarter.
The notes will be called at par if the index closes at or above its initial level on any determination date other than the final date.
The payout at maturity will be par plus the contingent coupon unless the index finishes below its 80% downside threshold, in which case investors will lose 1% for each 1% decline.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
The notes will settle on Sept. 29.
The Cusip number is 46647M7E7.
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