JPMorgan plans autocallable contingent interest notes on S&P, Russell

By Sarah Lizee

Olympia, Wash., Oct. 8 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due Jan. 31, 2020 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.

The notes are guaranteed by JPMorgan Chase & Co.

Interest is payable quarterly at a rate of 7.25% to 9.25% a year, with the exact percentage to be set at pricing, if each asset closes above its 70% interest barrier on the observation date for that quarter.

The notes will be called at par plus the interest payment if each asset closes at or above its initial level on any quarterly review date other than the final one beginning Jan. 28, 2019.

The payout at maturity will be par plus the final coupon unless any underlying finishes below its 70% trigger level, in which case investors will lose 1% for each 1% decline of the worst-performing underlying from its initial level.

J.P. Morgan Securities LLC is the agent.

The notes (Cusip: 48130U2T1) will price on Oct. 31.

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