JPMorgan plans autocallable contingent interest notes tied to stocks

By Sarah Lizee

Olympia, Wash., Oct. 18 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due Nov. 3, 2021 linked to the least performing of the common stocks of American Airlines Group Inc., Delta Air Lines, Inc. and Southwest Airlines Co., according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by JPMorgan Chase & Co.

Each quarter, the notes will pay a contingent coupon at an annual rate of at least 10.7% if each stock closes at or above its 60% coupon barrier level on the review date.

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

The payout at maturity will be par plus the final coupon, if any, unless any stock finishes below its 60% trigger level, in which case investors will lose 1% for each 1% decline of the worst performing stock from its initial level.

J.P. Morgan Securities LLC is the agent.

The notes will price on Oct. 29 and settle on Nov. 1.

The Cusip number is 48130UK87.

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