JPMorgan to offer contingent interest autocallables on three indexes

By Sarah Lizee

Olympia, Wash., Sept. 20 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due March 29, 2021 linked to the least performing of the Nasdaq-100 index, 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 guaranteed by JPMorgan Chase & Co.

Each quarter, the notes will pay a contingent coupon if each index closes at or above its interest barrier level, 75% of the initial level, on the review date for quarter. The contingent coupon rate is expected to be at least 8% per year and will be set at pricing.

Beginning on Dec. 24, 2019, 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 final one.

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

J.P. Morgan Securities LLC is the agent.

The notes (Cusip: 48132FA55) will price on Sept. 24 and settle on Sept. 27.

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