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JPMorgan plans autocallables tied to MSCI Emerging Markets, Russell
By Susanna Moon
Chicago, Aug. 23 – JPMorgan Chase Financial Co. LLC plans to price autocallable notes due Aug. 28, 2020 linked to the lesser performing of the Russell 2000 index and the MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of at least 10.5% if each index closes at or above its call level on any annual review date. The redemption threshold will be 100% of the initial level for the first call valuation date, stepping down to 95% of the initial level for the second review date and to 90% for the third date.
The payout at maturity will be par unless either underlying index finishes below it 70% trigger level, in which case investors will lose 1% for each 1% decline of the worse performing index.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
The notes will price on Aug. 25.
The Cusip number is 46647MT78.
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