JPMorgan plans 8% contingent interest callables on biotech, oil funds

By Susanna Moon

Chicago, Aug. 10 – JPMorgan Chase Financial Co. LLC plans to price callable contingent interest notes due Aug. 20, 2021 linked to the lesser performing of the Financial Select Sector SPDR fund and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent semiannual coupon at an annual rate of at least 8% if each fund closes at or above its 70% coupon barrier on the review date for that period.

The notes are callable at par plus the contingent coupon on any review date other than the first and final dates.

The payout at maturity will be par unless either fund falls below its 70% trigger level, in which case investors will be fully exposed to any losses of the worse performing fund.

The notes are guaranteed by JPMorgan Chase & Co.

J.P. Morgan Securities LLC is the agent.

The notes will price on Aug. 17.

The Cusip number is 48130UBK0.

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