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JPMorgan plans contingent interest callable notes tied to indexes, fund
By Susanna Moon
Chicago, Aug. 13 – JPMorgan Chase & Co. plans to price callable contingent interest notes due Feb. 22, 2019 linked to the worst performing of the S&P 500 index, the Russell 2000 index and the iShares MSCI EAFE exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9.25% to 9.75% if each component closes at or above its coupon barrier, 75% of its initial share price, on the review date for that quarter.
The notes may be redeemed at par on any of interest payment date other than the first and final dates.
The payout at maturity will be par plus the contingent coupon unless any component finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worst performing component.
J.P. Morgan Securities LLC is the agent.
The notes will price on Aug. 14 and settle on Aug. 19.
The Cusip number is 48125UM25.
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