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JPMorgan plans contingent interest autocallables on three indexes
By Sarah Lizee
Olympia, Wash., Jan. 9 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due July 15, 2021 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at the rate of at least 6.6% per year if each index closes at or above its coupon barrier, 70% of its initial level, on the review date for that period.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date other than the final one.
If the notes have not been called, the payout at maturity will be par unless any index finishes below its initial level and any index has ever closed below its 70% trigger value on any day during the life of the notes, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level.
J.P. Morgan Securities LLC is the agent.
The notes will price on Jan. 10.
The Cusip number is 48132HSR4.
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