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JPMorgan plans four-year contingent interest callable notes on indexes
By Susanna Moon
Chicago, Sept. 13 – JPMorgan Chase Financial Co. LLC plans to price callable contingent interest notes due Oct. 5, 2020 linked to lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 5% if each index closes at or above its coupon barrier level, 50% of its initial level, on the review date for that quarter.
The notes will be callable at par plus the contingent coupon on any review date other than the first and final dates.
The payout at maturity will be par unless either index finishes below its 50% trigger 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.
The notes will price on Sept. 27 and settle on Sept. 30.
The Cusip number is 46646EZU9.
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