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JPMorgan to price autocallable yield notes on S&P 500, Russell
By Devika Patel
Knoxville, Tenn., Oct. 3 – JPMorgan Chase Financial Co. LLC plans to price 7% to 9% autocallable yield notes due Oct. 31, 2017 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
Interest is payable monthly, with the exact coupon to be set at pricing.
The notes will be called at par of $1,000 plus the interest payment beginning Jan. 26, 2017, if each index closes at or above its initial level on any quarterly review date other than the final one.
The payout at maturity will be par unless either index closes below its 70% trigger level on any day during the life of the notes and either index finishes below its initial level, in which case investors will lose 1% for each 1% decline of the worst performing index.
J.P. Morgan Securities LLC is the agent.
The notes (Cusip: 46646EK50) will price on Oct. 26 and settle on Oct. 31.
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