JPMorgan plans autocallable contingent interest notes on S&P 500

By Marisa Wong

Morgantown, W.Va., Aug. 10 – JPMorgan Chase & Co. plans to price autocallable contingent interest notes due Aug. 19, 2020 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent semiannual coupon at an annual rate of 6.2% to 8.2% if the index closes at or above the barrier level, 80% of the initial level, on the review date for that period.

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

The payout at maturity will be par plus the final contingent interest payment unless the index finishes below the 80% trigger level, in which case investors will receive par plus the return with full exposure to any losses.

J.P. Morgan Securities LLC is the agent.

The notes are expected to price on Aug. 14 and settle on Aug. 19.

The Cusip number is 48125UL26.

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