JPMorgan to price contingent income securities linked to S&P 500

By Angela McDaniels

Tacoma, Wash., Jan. 13 - JPMorgan Chase & Co. plans to price contingent income securities due Jan. 22, 2024 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

Each quarter, investors will receive a contingent quarterly payment if the index closes at or above the downside threshold level, 50% of the initial index level, on the determination date for that quarter. The contingent quarterly payment is expected to be at least 1.15% per quarter, or 4.6% per year, and will be set at pricing.

If the final index level is greater than or equal to the downside threshold level, the payout at maturity will be par of $10. Otherwise, investors will be fully exposed to the decline of the index from its initial level.

J.P. Morgan Securities LLC is the agent. It will pay all of the selling commissions it receives to Morgan Stanley Smith Barney LLC.

The notes are expected to price Jan. 17.

The Cusip number is 48127A260.

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