JPMorgan to price step-up autocallables tied to S&P 500, Russell 2000

By Marisa Wong

Morgantown, W.Va., Jan. 22 – JPMorgan Chase Financial Co. LLC plans to price 0% step-up autocallable contingent buffered equity notes due Jan. 26, 2023 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.

The notes will be automatically called at par plus a call premium if each index closes at or above its call value on any annual review date other than the final review date. The call premium is expected to be at least 7.5% per year and will be set at pricing. The call value for each index will be 104% of its initial level for the first review date, 108% of its initial level for the second review, 112% of its initial level for the third review date and 116% of its initial level for the fourth review date.

If the notes are not called and the final level of each index is greater than its initial level, the payout at maturity will be par plus the return of the lesser-performing index.

If either index falls but neither falls by more than 50%, the payout will be par.

If either index falls by more than 50%, investors will be exposed to the decline of the lesser-performing index from its initial level.

J.P. Morgan Securities LLC is the agent.

The notes will price on Jan. 23.

The Cusip number is 48129HXJ1.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.