JPMorgan plans contingent income autocallables on Russell, S&P 500

By Marisa Wong

Morgantown, W.Va., June 28 – JPMorgan Chase Financial Co. LLC plans to price contingent income autocallable securities due July 18, 2019 linked to the worse performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by JPMorgan Chase & Co.

Each quarter, the notes will pay a contingent coupon at an annual rate of at least 9.6% if each index closes at or above its downside threshold level, 80% of its initial level, on the determination date for that quarter.

If each index closes at or above its initial level on any of the quarterly determination dates, other than the final date, the notes will be automatically called at par plus the contingent coupon.

If the notes are not called, the payout at maturity will be par plus the final contingent coupon unless either index finishes below the downside threshold level, in which case investors will be fully exposed to any losses of the worse performing index.

J.P. Morgan Securities LLC is the agent with Morgan Stanley Smith Barney LLC handling distribution.

The notes will price on July 15.

The Cusip number is 46646W417.

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