JPMorgan plans contingent income autocallables linked to U.S. Steel

By Susanna Moon

Chicago, Aug. 22 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent income securities due Sept. 6, 2018 linked to United States Steel Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 10.25% if the stock closes at or above the 60% coupon barrier on an observation date for that quarter.

The notes will be called at par if the stock finishes at or above its 90% redemption threshold on any quarterly determination date other than the final date.

The payout at maturity will be par unless the stock finishes below its 60% downside threshold, in which case investors will be fully exposed to any losses.

The guarantor is JPMorgan Chase & Co.

J.P. Morgan Securities LLC is the agent. Morgan Stanley Smith Barney LLC is distributor.

The notes will price on Aug. 31.

The Cusip number is 48129J756.

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