JPMorgan to price digital variable coupon notes linked to nine stocks

By Angela McDaniels

Tacoma, Wash., Sept. 25 – JPMorgan Chase Financial Co. LLC plans to price digital variable coupon notes due Oct. 3, 2023 linked to the stocks of AbbVie Inc., Alibaba Group Holding Ltd., Altria Group, Inc., American Water Works Co., Inc., Baxter International Inc., Facebook Inc., Lincoln National Corp., OneMain Holdings, Inc. and XL Group Ltd., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by JPMorgan Chase & Co.

Every six months, the notes will pay a coupon equal to the sum of the weighted performances of each basket stock, subject to a minimum coupon rate. If a stock’s return on a coupon determination date is greater than or equal to zero, its performance will be equal to the coupon cap. If its return is less than zero, its performance will be the greater of its return and negative 20%.

The minimum coupon rate is expected to be at least 0.5% per year, and the coupon cap is expected to be at least 7% per year. Each will be set at pricing.

The payout at maturity will be par plus the final coupon.

J.P. Morgan Securities LLC is the agent.

The notes will price Sept. 28.

The Cusip number is 46647MNH2.

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