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JPMorgan plans 7.85% contingent interest autocalls on indexes, fund
By Susanna Moon
Chicago, June 5 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due June 23, 2022 linked to the least performing of the Russell 2000 index, the SPDR S&P Oil & Gas Exploration & Production ETF and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.85% if each underlying asset closes at or above its 60% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each asset closes at or above its initial level on any review date other than the first, second, third and final dates.
The payout at maturity will be par unless any asset finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worse performing index or fund.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the underwriter.
The notes will price on June 20 and settle on June 25.
The Cusip number is 48129MWJ1.
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