JPMorgan plans callable contingent interest notes tied to S&P, Russell

By Angela McDaniels

Tacoma, Wash., April 2 – JPMorgan Chase & Co. plans to price callable contingent interest notes due May 6, 2019 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

Each quarter, the notes pay a contingent coupon if each index closes at or above its barrier level, 60% of its initial level, on the review date for that quarter. The contingent coupon rate is expected to be at least 6% per year and will be set at pricing.

The notes are callable at par plus the contingent coupon on any interest payment date other than the final one.

If the notes have not been called, the payout at maturity will be par unless either index finishes below its barrier level, in which case investors will be fully exposed to the decline of the lesser-performing index.

J.P. Morgan Securities LLC is the agent.

The notes will price April 27 and settle April 30.

The Cusip number is 48125UMN9.

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