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JPMorgan plans yield notes linked to 10-year U.S. dollar ICE swap rate
By Angela McDaniels
Tacoma, Wash., June 21 – JPMorgan Chase Financial Co. LLC plans to price 8.5% yield notes due June 27, 2017 linked to the 10-year U.S. dollar ICE swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Interest will be payable quarterly.
If the final 10-year U.S. dollar ICE swap rate is greater than or equal to the initial rate or is less than the initial rate by up to 37.5%, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final rate is less than the initial rate.
J.P. Morgan Securities LLC is the agent.
The notes are expected to price June 22.
The Cusip number is 46646EJT0.
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