JPMorgan to price callable contingent interest notes on S&P, Russell

By Devika Patel

Knoxville, Tenn., Sept. 21 – JPMorgan Chase Financial Co. LLC plans to price callable contingent interest notes due March 30, 2020 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 are guaranteed by JPMorgan Chase & Co.

The notes will pay a contingent semiannual coupon if each index closes at or above its trigger value, 65% of its initial level, on the review date for that period. The contingent interest rate is expected to be at least 3.65% and will be set at pricing.

The notes will be callable in whole but not in part at par plus the contingent coupon on any semiannual interest payment date other than the final one, beginning Oct. 1, 2018.

If the notes have not been called, the payout at maturity will be par plus the final interest payment, if any, unless either index finishes below its trigger value, 60% of its initial level, in which case investors will lose 1% for each 1% decline of the lesser-performing index from its initial level.

J.P. Morgan Securities LLC is the agent.

The notes (Cusip: 48129HAQ0) will price on Sept. 22 and settle on Sept. 27.

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