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JPMorgan plans contingent interest autocallables tied to Russell, ETFs
By Angela McDaniels
Tacoma, Wash., June 5 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due June 24, 2021 linked to the least performing of the Russell 2000 index, the iShares MSCI EAFE exchange-traded fund and the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon if each underlier closes at or above its trigger value, 60% of its initial level, on the review date for that quarter. The contingent coupon rate is expected to be at least 7.35% per year and will be set at pricing.
The notes will be automatically called at par plus the contingent coupon if each underlier closes at or above its initial level on any quarterly review date other than the first, second, third and final review dates.
If the notes have not been called, the payout at maturity will be par unless any underlier finishes below its trigger value, in which case investors will lose 1% for every 1% that the least-performing underlier finishes below its initial level.
J.P. Morgan Securities LLC is the agent.
The notes will price June 21.
The Cusip number is 46647MGE7.
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