JPMorgan plans contingent interest autocallables tied to Russell, S&P

By Devika Patel

Knoxville, Tenn., Sept. 28 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due April 18, 2019 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by JPMorgan Chase & Co.

Each quarter, the notes will pay a contingent coupon if each index closes at or above its trigger value, 70% of its initial level, on the review date for that quarter. The contingent coupon rate is expected to be between 5.5% and 7.5% per year and will be set at pricing.

Beginning April 16, 2018, the notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date other than the final one.

If the notes have not been called, the payout at maturity will be par plus the final coupon unless either index finishes below its initial level and either index closes below its trigger value during the life of the notes, in which case investors will receive the final coupon, if any, and lose 1% for every 1% that the lesser-performing index finishes below its initial level.

J.P. Morgan Securities LLC is the agent.

The notes (Cusip: 48129HBP1) will price on Oct. 16 and settle on Oct. 19.

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