JPMorgan plans trigger phoenix autocallables tied to two indexes

By Marisa Wong

Madison, Wis., Feb. 4 – JPMorgan Chase & Co. plans to price trigger phoenix autocallable optimization securities due Feb. 20, 2025 linked to the least performing of the Euro Stoxx 50 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 8% to 8.5% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter. The exact coupon will be set at pricing.

The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly observation date beginning after one year.

If the notes are not called and each index finishes at or above its 70% coupon barrier level, the payout at maturity will be par plus the contingent coupon.

If either index finishes below the 70% barrier but each index finishes at or above the trigger level, 50% of the initial level, the payout will be par.

Otherwise, investors will be fully exposed to any losses of the worst-performing index.

J.P. Morgan Securities LLC and UBS Financial Services Inc. are the agents.

The notes will price on Feb. 13 and settle on Feb. 19.

The Cusip number is 48127R578.

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