JPMorgan plans callable contingent interest notes tied to indexes

By Toni Weeks

San Luis Obispo, Calif., July 8 – JPMorgan Chase & Co. plans to price callable contingent interest notes due Aug. 4, 2021 linked to the worst performing of the S&P 500 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a continent quarterly coupon at an annualized rate of at least 7% if each index closes at or above its coupon barrier level, 60% of its initial share price, on the review date for that quarter. The exact coupon will be set at pricing.

The payout at maturity will be par plus the final contingent coupon unless either index finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worst-performing index.

The notes are callable on any interest payment date.

J.P. Morgan Securities LLC is the agent.

The notes will price July 28 and settle Aug. 4.

The Cusip number is 48125UZV7.

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