JPMorgan to issue contingent interest autocalls tied to biotech ETF

By Emma Trincal

New York, Sept. 16 – JPMorgan Chase Financial Co. LLC plans to issue autocallable contingent interest notes due March 20, 2024 linked to the SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.

Investors will receive a coupon of 14% per annum, paid quarterly, if the underlying fund closes at or above its 60% interest barrier on the related quarterly review date.

The securities will be called automatically at par plus the contingent coupon if the price of the underlying fund is greater than or equal to its initial level on any quarterly review date.

If the notes are not called and the ETF share price finishes at or above the trigger level, 60% of the initial price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the price decline from the initial price.

The notes are guaranteed by JPMorgan Chase & Co.

J.P. Morgan Securities LLC is the agent.

The notes were expected to price on Sept. 15 and to settle on Sept. 20.

The Cusip number is 48133MYV6.

The fee is 2.75%.

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