JPMorgan pushes back pricing on digital notes linked to nine stocks

By Marisa Wong

Morgantown, W.Va., Sept. 28 – JPMorgan Chase Financial Co. LLC updated the pricing date for its planned digital variable coupon notes due Oct. 3, 2023 linked to an equally weighted basket of nine stocks, according to an amended 424B2 filing with the Securities and Exchange Commission.

The notes will price on Sept. 29 instead of Sept. 28.

The basket stocks include 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.

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.

The notes will be guaranteed by JPMorgan Chase & Co.

J.P. Morgan Securities LLC is the agent.

The Cusip number is 46647MNH2.

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