JPMorgan to price callable contingent interest notes on two ETFs

By Sarah Lizee

Olympia, Wash., Nov. 19 – JPMorgan Chase Financial Co. LLC plans to price callable contingent interest notes due Nov. 30, 2021 linked to the lesser performing of the Financial Select Sector SPDR Fund and the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by JPMorgan Chase & Co.

Each six months, the notes will pay a contingent coupon at an annual rate of 13.5% if each fund closes at or above its coupon barrier level, 70% of its initial level, on the review date for that period.

The notes will be callable at par plus the contingent coupon if each fund closes at or above its initial level on any semiannual review date other than the final date.

If the notes have not been called, the payout at maturity will be par plus the final coupon, if any, if both funds close above their trigger value, 60% of their respective initial levels.

Otherwise investors will lose 1% for each 1% decline of the lesser-performing fund.

J.P. Morgan Securities LLC is the agent.

The notes will price on Nov. 21 and settle on Nov. 29.

The Cusip number is 48130WDQ1.

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