JPMorgan plans step down trigger autocallables linked to indexes

By Angela McDaniels

Tacoma, Wash., Aug. 7 – JPMorgan Chase Financial Co. LLC plans to price 0% step down trigger autocallable notes due Aug. 24, 2022 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by JPMorgan Chase & Co.

The notes will be automatically called at par of $10 plus a call return if each index closes at or above its initial level on the first, second, third or fourth annual observation date or if each index closes at or above its downside threshold level, 75% of its initial level, on the final valuation date, Aug. 18, 2022. The call return rate is expected to be 6.5% to 7.5% per year and will be set at pricing.

If the notes are not subject to an automatic call, that means the final level of at least one index will be less than its downside threshold, and investors will be exposed to the decline of the lesser-performing index from its initial level.

UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.

The notes will price Aug. 18.

The Cusip number is 48129J863.

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