JPMorgan plans contingent interest autocallables tied to three stocks

By Devika Patel

Knoxville, Tenn., Sept. 11 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due Sept. 20, 2021 linked to the least performing of the American Depositary Shares of Alibaba Group Holding Ltd., the class A common stock of Facebook, Inc. and the common stock of Tesla, Inc., according to a 424B2 filed with the Securities and Exchange Commission.

The notes will be guaranteed by JPMorgan Chase & Co.

The notes will pay a contingent monthly coupon at an annual rate of between 15.25% and 16.25% if each stock closes at or above its interest barrier level, 60% of its initial level, on the review date for that month. The exact contingent coupon rate will be set at pricing.

Beginning on March 15, 2018, the notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any monthly review date other than the final one.

The payout at maturity will be par plus the contingent coupon unless any stock finishes below its 60% trigger level, in which case 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.

The notes (Cusip: 46647M5T6) will price on Sept. 15 and settle Sept. 22.

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