JPMorgan eyes contingent interest autocallables on FedEx

By Sarah Lizee

Olympia, Wash., Sept. 26 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due Oct. 15, 2020 tied to the common stock of FedEx Corp., according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon if the stock closes at or above the trigger level, 75% of its initial share price, on the review date for that quarter. The contingent interest rate is expected to be at least 13.36% per year and will be set at pricing.

The notes will be automatically called at par if the stock closes at or above its initial share price on any quarterly review date other than the first and final review dates.

The payout at maturity will be par unless the stock finishes below its trigger level, in which case investors will be fully exposed to the stock’s decline from its initial share price.

The notes will be guaranteed by JPMorgan Chase & Co.

J.P. Morgan Securities LLC is the agent.

The notes will price Sept. 27.

The Cusip number is 48132FNS1.

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