JPMorgan plans contingent buffer step-up autocalls on Russell, S&P

By Susanna Moon

Chicago, Jan. 5 – JPMorgan Chase Financial Co. LLC plans to price 0% step-up autocallable contingent buffered return enhanced notes due Jan. 31, 2025 linked to 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 called at par plus an annual call premium of at least 8% if each index closes above its call value on any annual call date other than the final date. The call level is 102.5% of the initial level on the first review date, stepping up by 2.5% on each subsequent year to a final call level of 115% on the sixth review date.

If each index finishes at or above its initial level, the payout at maturity will be par plus 1.5 times the gain of the worse performing index.

Investors will receive par if either index falls but by no more than 50%.

Otherwise, investors will be fully exposed to any 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 Jan. 26 and will settle on or about Jan. 31.

The Cusip number is 48129HD46.

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