JPMorgan plans contingent interest accrual notes linked to S&P, Russell

By Angela McDaniels

Tacoma, Wash., July 3 – JPMorgan Chase Financial Co. LLC plans to price callable contingent interest accrual notes due Aug. 2, 2024 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 notes will be guaranteed by JPMorgan Chase & Co.

Each month, the notes will pay a contingent coupon equal to (a) $1,000 multiplied by (b) the quotient of “N” divided by 252 multiplied by (c) the contingent interest rate, which is expected to be at least 6.5% per year and will be set at pricing. “N” will be equal to the aggregate number of trading days that month on which each index closed at or above its trigger value, 80% of its initial level.

The notes will be callable at par on any interest payment date other than the first through 11th interest payment dates and the final interest payment date.

If the notes have not been called, the payout at maturity will be par unless either index finishes below its trigger value, in which case investors will lose 1% for every 1% that the lesser-performing index declines beyond 20%.

J.P. Morgan Securities LLC is the agent.

The notes will price July 26.

The Cusip number is 46647MWF6.

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