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JPMorgan to price autocallable yield notes linked to S&P, Russell
By Angela McDaniels
Tacoma, Wash., Oct. 28 – JPMorgan Chase Financial Co. LLC plans to price autocallable yield notes due Feb. 4, 2021 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 interest rate is expected to be at least 7.25% per year and will be set at pricing. Interest will be payable monthly.
The notes will be called at par if each index closes at or above its initial level on April 30, 2020, July 31, 2020 or Nov. 2, 2020.
The payout at maturity will be par unless either index closes below its trigger level, 67.5% of its initial level, during the life of the notes and either index finishes below its initial level, in which case investors will be fully exposed the decline of the lesser-performing index.
The notes will be guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
The notes will price Oct. 31.
The Cusip number is 48132F2M7.
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