JPMorgan plans contingent interest autocallables linked to Netflix

By Angela McDaniels

Tacoma, Wash., June 18 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due July 9, 2020 linked to the common stock of Netflix Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon if the stock closes at or above its trigger level, 65.75% of its initial share price, on the review date for that quarter. The contingent interest rate is expected to be at least 15% per year and will be set at pricing.

The notes will be automatically called at par if Netflix stock closes at or above its initial share price on any quarterly review date other than the final review date.

The payout at maturity will be par unless Netflix stock finishes below the trigger level, in which case investors will be fully exposed to the stock’s decline from its initial share price.

The notes will be guaranteed by JPMorgan Chase & Co.

J.P. Morgan Securities LLC is the agent.

The notes will price June 21.

The Cusip number is 48132CWC3.

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