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JPMorgan plans 10% contingent interest autocalls tied to two stocks
By Susanna Moon
Chicago, Aug. 20 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due Aug. 24, 2023 linked to the lesser performing of the common stock of Amazon.com, Inc. and the American Depositary Shares of Alibaba Group Holding Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of at least 10% if each stock closes at or above its 60% coupon barrier on the review date for that month.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any review date other than the first and final dates.
The payout at maturity will be par unless any stock finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worst performing stock.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
The notes will settle on Aug. 23.
The Cusip number is 48130UCD5.
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