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JPMorgan plans contingent interest autocallables tied to three ETFs
New York, July 13 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due July 17, 2020 linked to the least performing of the SPDR S&P 500 ETF trust, the iShares Russell 2000 exchange-traded fund and the SPDR Euro Stoxx 50 exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
Every six months, the notes will pay a contingent coupon at the rate of 6.25% per year if each ETF closes at or above its interest barrier, 60% of its initial level, on the review date for that period.
The notes will be automatically called at par plus the contingent coupon if each underlier closes at or above its initial level on any semi-annual review date except the final one.
If the notes have not been called, the payout at maturity will be par unless any ETF finishes below its 60% trigger value, in which case investors will lose 1% for every 1% that the least-performing fund finishes below its initial level.
J.P. Morgan Securities LLC is the agent.
The notes will price on July 14 and settle on July 19.
The Cusip number is 46647MXK4.
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