JPMorgan plans callable contingent interest notes tied to Russell 2000

By Toni Weeks

San Luis Obispo, Calif., April 16 – JPMorgan Chase & Co. plans to price callable contingent interest notes due April 25, 2025 linked to the Russell 2000 index, according to an FWP with the Securities and Exchange Commission.

If the index closes at or above the 70% interest barrier on a monthly review date, the notes will pay a coupon at an annualized rate of at least 7.45% for that month. The exact coupon will be set at pricing.

The issuer may call the notes on any interest payment date, except for the first 11 interest payment dates and the final interest payment date. If the notes are called, the payout will be par plus any accrued interest.

If the notes have not been called and the final index level is at or above the 70% trigger level, the payout at maturity will be par plus the contingent interest payment. If the final index level finishes below the trigger level, investors will lose 1% for every 1% index decline from its initial level.

The notes (Cusip: 48125UNT5) will price April 17 and settle April 22.

J.P. Morgan Securities LLC is the agent.

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