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JPMorgan plans callable contingent interest notes on indexes, fund
By Susanna Moon
Chicago, Aug. 5 – JPMorgan Chase Financial Co. LLC plans to price callable contingent interest notes due Feb. 19, 2020 linked to the least performing of the S&P 500 index, the Russell 2000 index and the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay contingent quarterly interest at an annual rate of 9.5% if each component closes above its 70% interest barrier on the observation date for that quarter.
The notes are callable at par on any interest payment date other than the first and final dates.
The payout at maturity will be par unless any component finishes below its 55% trigger level, in which case investors will be fully exposed any losses in the worst performing component.
J.P. Morgan Securities LLC is the agent.
The notes will price on Aug. 11 and settle on Aug. 16.
The Cusip number is 46646ETQ5.
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