JPMorgan amends terms of contingent interest autocalls on Netflix

By Sarah Lizee

Olympia, Wash., July 26 – JPMorgan Chase Financial Co. LLC amended the contingent coupon, trigger level and call value for its planned autocallable contingent interest notes due Nov. 19, 2020 linked to the common stock of Netflix Inc., according to an amended 424B2 filing with the Securities and Exchange Commission.

The contingent coupon rate was changed to 14.5% per year from 14.75% per year previously.

The trigger level was changed to 67.5% of the initial level of the index from 70% previously.

The call value was changed to 110% of the initial level of the index from 100% previously.

As before, each quarter, the notes will pay a contingent coupon if the stock closes at or above its trigger level on the review date for that quarter.

The notes will be automatically called at par if Netflix stock closes at or above its call value on any quarterly review date other than the first and final review dates.

The payout at maturity will be par unless Netflix stock closes below its trigger value during the life of the notes and finishes below its initial share price, in which case investors will be fully exposed to the stock’s decline from its initial share price.

The notes will be guaranteed by JPMorgan Chase & Co.

J.P. Morgan Securities LLC is the agent.

The notes will price Aug. 14.

The Cusip number is 48132C7C1.

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