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JPMorgan to price contingent income autocallables on General Electric
By Tali Rackner
Minneapolis, Feb. 14 – JPMorgan Chase Financial Co. LLC plans to price contingent income autocallable securities due Feb. 21, 2020 linked to the common stock of General Electric Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annualized rate of at least 10% if General Electric stock closes at or above its 75% downside threshold level on the determination date for that quarter. The exact coupon will be set at pricing.
The notes will be redeemed at par of $10 plus the contingent coupon if the stock closes at or above its initial level on any quarterly determination date other than the final date.
The payout at maturity will be par plus the final coupon unless the stock finishes below the 75% downside threshold level, in which case investors will lose 1% for every 1% that the final share price is less than the initial share price.
J.P. Morgan Securities LLC is the agent, with Morgan Stanley Wealth Management handling distribution.
The notes will price on Feb. 15.
The Cusip number is 48129L702.
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