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JPMorgan plans 5.5%-7.5% contingent interest autocalls on indexes
By Susanna Moon
Chicago, Dec. 11 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due Dec. 30, 2022 linked to the least 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 pay a contingent quarterly coupon at an annual rate of 5.5% to 7.5% if each index closes at or above its 60% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any review date other than the first, second, third and final dates.
The payout at maturity will be par unless either index finishes below its 60% trigger level, in which case investors will be exposed to losses 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 Dec. 27 and settle on Jan. 2.
The Cusip number is 48129HSK4.
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