JPMorgan eyes contingent coupon callable yield notes on Russell, FTSE

By Devika Patel

Knoxville, Tenn., Feb. 27 – JPMorgan Chase Financial Co. LLC plans to price contingent coupon callable yield notes due Aug. 31, 2018 linked to the Russell 2000 index and the FTSE 100 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by JPMorgan Chase & Co.

The notes will pay a contingent quarterly coupon at an annual rate of at least 6.7% if each index closes at or above its barrier level, 70% of the initial level, on the observation date for that period. The exact coupon will be set at pricing.

The notes will be callable in whole but not in part at par plus the contingent coupon on any quarterly interest payment on or after Dec. 1, 2017 but before the maturity date.

The payout at maturity will be par unless either of the indexes finishes at or below its 70% barrier level, in which case investors will lose 1% for each 1% decline of the worst-performing index.

J.P. Morgan Securities LLC is the agent.

The notes (Cusip: 46646QJ48) are expected to price Feb. 28 and settle March 3.

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