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JPMorgan to price contingent coupon autocalls on Netflix
By Sarah Lizee
Olympia, Wash., Aug. 7 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due Aug. 15, 2023 linked to Netflix, Inc. common 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 9.75% to 11.75% if the stock closes at or above its 65% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any review date other than the first and final dates.
The payout at maturity will be par plus the coupon unless the stock finishes below its 65% trigger level, in which case investors will lose 1% for every 1% that the stock declines.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
The notes will price on Aug. 10.
The Cusip number is 48132M3K5.
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