JPMorgan plans trigger autocallable contingent yield notes on indexes

By Devika Patel

Knoxville, Tenn., Oct. 8 – JPMorgan Chase Financial Co. LLC plans to price 0% trigger autocallable contingent yield notes due Oct. 16, 2029 linked to the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by JPMorgan Chase & Co.

The notes will pay a contingent quarterly coupon at an annual rate of 6.5% to 7% if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter. The exact coupon rate will be set at pricing.

The notes will be called at par of $10 plus the coupon if each index closes at or above its initial level on any quarterly observation date beginning Oct. 13, 2020.

The payout at maturity will be par plus any coupon unless either index finishes below the downside threshold, 50% of its initial level, in which case investors will lose 1% for every 1% decline of the worse performing index from its initial level.

UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.

The notes (Cusip: 48132G419) will price on Oct. 11 and settle on Oct. 16.

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