JPMorgan plans 6.5% contingent interest autocalls on indexes, ETF

New York, May 8 – JPMorgan Chase Financial Co. LLC plans to price 6.5% autocallable contingent interest notes due Nov. 14, 2019 linked to the least performing of the iShares MSCI EAFE exchange-traded fund, the Russell 2000 index and the S&P 500 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 6.5% if each underlying component closes at or above its 70% interest barrier on the review date for that quarter.

The notes will be automatically called at par plus the contingent coupon if each component closes at or above its initial level on any review date other than the final date.

The payout at maturity will be par unless any component closes below its 70% trigger value on any day during the life of the notes, in which case investors will be fully exposed to any losses of the worse performing component.

JPMorgan revised the terms in a filing on Tuesday compared to the original announcement on May 4.

Under the initial terms, the notes were non-callable until Nov. 9, 2018 and paid a 6.75% coupon.

The notes are guaranteed by JPMorgan Chase & Co.

J.P. Morgan Securities LLC is the agent.

The notes will price on May 9 and settle on May 14.

The Cusip number is 48129MSL1.

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