JPMorgan plans step-up autocall contingent buffered notes on indexes

By Tali Rackner

Minneapolis, July 14 – JPMorgan Chase Financial Co. LLC plans to price step-up autocallable contingent buffered return enhanced notes due July 31, 2024 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.

The notes will be called at par plus an annual call premium of 8% if each index closes at or above its call level on an annual review date. The call level will be 102.5% of the initial level on the first review date and will step up by 2.5% on each subsequent review date to 115% on the sixth date.

If the notes are not called, the payout at maturity will be par plus 1.75 times any gain of the worse performing index.

Investors will receive par if each index falls by no more than 50% and will be fully exposed to any losses of the worse performing index if it falls by more than the contingent buffer.

J.P. Morgan Securities LLC is the agent.

The notes will price on July 26 and settle on July 31.

The Cusip number is 46647MUM3.

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