JPMorgan plans 12.5% contingent income callable notes tied to Micron

By Susanna Moon

Chicago, April 18 – JPMorgan Chase Financial Co. LLC plans to price contingent income callable securities due April 23, 2021 linked to the common stock of Micron Technology, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annualized rate of 12.5% if the stock closes at or above its 50% coupon barrier on the observation date for that quarter.

The notes are callable at par on any quarterly determination date other than the final date.

The payout at maturity will be par plus the final coupon unless the stock finishes below its 50% downside threshold, in which case investors will be fully exposed to any losses.

The notes are guaranteed by JPMorgan Chase & Co.

J.P. Morgan Securities LLC is the agent with Morgan Stanley Smith Barney LLC handling distribution.

The notes will price on April 20.

The Cusip number is 48129L140.

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