JPMorgan plans autocallable contingent interest notes tied to stocks

By Sarah Lizee

Olympia, Wash., Oct. 9 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due Oct. 20, 2022 linked to the least performing of the common stocks of Berkshire Hathaway Inc., PayPal Holdings, Inc. and Wells Fargo & Co., according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by JPMorgan Chase & Co.

Each quarter, the notes will pay a contingent coupon at an annual rate of at least 10.25% if each stock closes at or above its 65% coupon barrier level on the review date.

The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any quarterly review date other than the first and final ones.

The payout at maturity will be par plus the final coupon, if any, unless any stock finishes below its 60% trigger level, in which case investors will lose 1% for each 1% decline of the worst performing stock from its initial level.

J.P. Morgan Securities LLC is the agent.

The notes will price on Oct. 15 and settle on Oct. 22.

The Cusip number is 48130U5R2.

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