JPMorgan plans contingent interest callable notes tied to two indexes

By Susanna Moon

Chicago, Aug. 7 – JPMorgan Chase & Co. plans to price autocallable contingent interest notes due Sept. 5, 2023 linked to the worst performing of the S&P 500 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 7% if each index closes at or above its coupon barrier, 60% of its initial share price, on the review date for that quarter.

The notes may be redeemed at par on any of interest payment date other than the final date.

The payout at maturity will be par plus the contingent coupon unless either index finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worst performing index.

J.P. Morgan Securities LLC is the agent.

The notes will price on Aug. 26 and settle on Aug. 31.

The Cusip number is 48125UK92.

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