JPMorgan plans autocallable contingent interest notes on Ulta Beauty

By Devika Patel

Knoxville, Tenn., July 6 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due Oct. 21, 2021 linked to Ulta Beauty, Inc. common shares, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by JPMorgan Chase & Co.

The notes will pay a contingent monthly coupon at an annual rate of at least 10.15% if the stock closes at or above the 50% coupon barrier level on the review date for that month. The exact coupon will be set at pricing.

The notes will be called at par plus the contingent coupon if the stock closes at or above the initial level on Jan. 19, 2021, April 19, 2021 or July 19, 2021.

The payout at maturity will be par plus the final contingent interest payment unless the final share price is less than the 50% trigger level, in which case investors will lose 1% for each 1% decline of the stock from its initial level.

J.P. Morgan Securities LLC is the agent.

The notes (Cusip: 48132MSV4) will price on July 17 and settle July 22.

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