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JPMorgan plans autocallable contingent interest notes on index, fund
By Jennifer Chiou
New York, Sept. 11 – JPMorgan Chase & Co. plans to price autocallable contingent interest notes due Dec. 18, 2015 linked to the Russell 2000 index and the iShares MSCI EAFE exchange-traded fund, according to an FWP with the Securities and Exchange Commission.
If each underlying component closes at or above the 70% coupon barrier level on a quarterly review date, the notes will pay a coupon at an annualized rate of between 7.25% and 9.25% for that quarter. The exact rate will be set at pricing.
The notes will be called at par plus the contingent coupon if each underlying component closes at or above its initial level on any of the first four quarterly review dates.
The payout at maturity will be par plus the final coupon unless the either component finishes below its trigger level, 70% of its initial level, in which case investors will be fully exposed to the decline of the worse performing underlying component.
The notes (Cusip: 48127DZZ4) will price on Sept. 15 and settle on Sept. 18.
J.P. Morgan Securities LLC is the agent.
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