JPMorgan plans contingent coupon callable yield notes on ETFs

By Sarah Lizee

Olympia, Wash., April 29 – JPMorgan Chase Financial Co. LLC plans to price contingent coupon callable yield notes due May 5, 2022 linked to the Financial Select Sector SPDR fund, the SPDR S&P Regional Banking ETF and the SPDR S&P Bank ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by JPMorgan Chase & Co.

The notes will pay a contingent quarterly coupon of 15% if each ETF closes at or above its coupon barrier level, 50% of its initial level, on the observation date for that quarter.

The notes will be callable in whole but not in part at par plus any coupon on any interest payment date other than the first and final ones.

The payout at maturity will be par plus the final coupon unless any ETF finishes below its 50% trigger level, in which case investors will lose 1% for each 1% decline of the worst performing ETF.

J.P. Morgan Securities LLC is the agent.

The notes will price on April 30.

The Cusip number is 48132K2S3.

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