JPMorgan plans callable contingent interest notes tied to Dow, Russell

By Susanna Moon

Chicago, April 8 – JPMorgan Chase & Co. plans to price callable contingent interest notes due May 3, 2021 linked to the lesser performing of the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 7% if each index closes at or above its coupon barrier level, 65% of its initial level, on the review date for that quarter.

The notes are callable at par plus the contingent coupon on any interest payment dates other than the first and final dates.

The payout at maturity will be par unless either index finishes below its 65% trigger level, in which case investors will be fully exposed to the loss of the worse performing index.

J.P. Morgan Securities LLC is the agent.

The notes will price on April 26 and settle on April 29.

The Cusip number is 48128GVW7.

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