JPMorgan plans contingent interest autocallables on S&P, Russell

By Sarah Lizee

Olympia, Wash., Aug. 13 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due Nov. 19, 2020 linked to the lesser 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 be guaranteed by JPMorgan Chase & Co.

Each quarter, the notes will pay a contingent coupon if each index closes at or above its trigger level, 75% of its initial level, on the review date for that quarter. The contingent coupon rate is expected to be at least 6.7% per year and will be set at pricing.

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

If the notes have not been called, the payout at maturity will be par unless either index finishes below its initial level and either index has ever closed below its trigger level on any day during the life of the notes, in which case investors will lose 1% for every 1% that the lesser-performing index declines from its initial level.

J.P. Morgan Securities LLC is the agent.

The notes will price Aug. 14.

The Cusip number is 48132CV75.

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