JPMorgan plans contingent income autocallables on Amazon and Facebook

By Devika Patel

Knoxville, Tenn., April 21 – JPMorgan Chase Financial Co. LLC plans to price contingent income autocallable securities due May 2, 2019 linked to the common stocks of Amazon.com, Inc. and Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by JPMorgan Chase & Co.

Each quarter, the notes will pay a contingent quarterly payment if each stock closes at or above its downside threshold level, 70% of its initial level, on the determination date for that quarter. The contingent coupon rate is expected to be at least 10.1% annually and will be set at pricing.

JPMorgan may call the notes at par of $1,000 plus the contingent coupon on any quarterly determination date other than the final one if the closing level of each stock is greater than or equal to its initial level, beginning July 27, 2017.

If each stock finishes at or above its downside threshold level, 70% of its initial level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will lose 1% for each 1% decline of the worst performing stock from its initial level.

J.P. Morgan Securities LLC is the agent, with Morgan Stanley Wealth Management handling distribution.

The notes (Cusip: 48129F325) will price on April 27 and settle three days after pricing.

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