JPMorgan plans contingent interest autocallables on indexes, oil ETF

By Angela McDaniels

Tacoma, Wash., July 9 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due Oct. 15, 2020 linked to the least performing of the S&P 500 index, the Russell 2000 index and the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

Each month, the notes will pay a contingent coupon if each underlier closes at or above its interest barrier, 70% of its initial level, on the review date for that month. The contingent coupon rate is expected to be at least 11.1% per year and will be set at pricing.

The notes will be automatically called at par plus the contingent coupon if each underlier closes at or above its initial level on Oct. 14, 2019, Jan. 13, 2020, April 13, 2020 or July 13, 2020.

If the notes have not been called, the payout at maturity will be par unless any underlier closes below its trigger value, 65% of its initial level, during the life of the notes and any underlier finishes below its initial level, in which case investors will lose 1% for every 1% that the least-performing underlier finishes below its initial level.

The notes will be guaranteed by JPMorgan Chase & Co.

J.P. Morgan Securities LLC is the agent.

The notes will price July 12.

The Cusip number is 48132C4L4.

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