JPMorgan plans contingent interest autocallables tied to three stocks

By Angela McDaniels

Tacoma, Wash., Oct. 16 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due Oct. 29, 2020 linked to the least performing of the common stocks of Apple Inc., Citigroup Inc. and Merck & Co., Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by JPMorgan Chase & Co.

Each month, the notes will pay a contingent coupon if each stock closes at or above its trigger value, 60% of its initial share price, on the review date for that month. The contingent coupon rate is expected to be at least 8% per year and will be set at pricing.

Beginning April 25, 2018, the notes will be automatically called at par plus the contingent coupon if each stock closes at or above its initial share price on any monthly review date other than the final review date.

If the notes have not been called, the payout at maturity will be par unless any stock finishes below its trigger value, in which case investors will lose 1% for every 1% that the least-performing stock finishes below its initial share price.

J.P. Morgan Securities LLC is the agent.

The notes will price Oct. 25.

The Cusip number is 48129HGM3.

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