JPMorgan eyes autocallable contingent interest notes on Apple, Alphabet

Chicago, Jan. 9 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due Jan. 17, 2024 linked to the lesser performing of the common stocks of Alphabet Inc. and Apple Inc., 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 at an annualized rate of at least 10.25% both stocks close at or above the coupon barrier price, 60% of the initial price, on the review date for that quarter. The exact rate will be set at pricing.

Beginning Jan. 13, 2020 and ending Oct. 11, 2023, the notes will be automatically called at par plus the contingent interest payment if both stocks close at or above their initial prices on a quarterly review date.

If the final price of the worse performing stock is greater than or equal to the trigger value, 60% of the initial price, the payout at maturity will be par plus the contingent interest payment. Otherwise, investors will lose 1% for each 1% decline of the worse performing stock from its initial price.

J.P. Morgan Securities LLC is the agent.

The notes (Cusip: 48130WRQ6) are expected to price on Jan. 11 and settle on Jan. 15.

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