JPMorgan eyes contingent coupon autocallable yield notes on ETFs

By Sarah Lizee

Olympia, Wash., June 4 – JPMorgan Chase Financial Co. LLC plans to price contingent coupon autocallable yield notes due June 9, 2022 linked to the Financial Select Sector SPDR fund, the Technology Select Sector SPDR fund and the SPDR S&P Bank ETF, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes pay a contingent coupon at the rate of 15% per year if each ETF closes at or above its trigger value, 65.6% of its initial share price, on the observation date for that quarter.

The notes will be called at par if each ETF closes at or above its initial share price on any quarterly observation date other than the final one.

If the notes are not called, the payout at maturity will be par unless any ETF finishes below its trigger value, in which case investors will have one-to-one exposure to the decline of the least-performing ETF.

The notes are guaranteed by JPMorgan Chase & Co.

J.P. Morgan Securities LLC is the agent.

The notes will price on June 5.

The Cusip number is 48132MFC0.

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