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JPMorgan plans 8.85% autocallable yield notes linked to S&P, Russell
By Sarah Lizee
Olympia, Wash., Sept. 17 – JPMorgan Chase Financial Co. LLC plans to price 8.85% autocallable yield notes due Jan. 5, 2021 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 are guaranteed by JPMorgan Chase & Co.
The notes will be automatically called at par if each index closes at or above its initial level on March 30, 2020, June 30, 2020 or Sept. 30, 2020.
The payout at maturity will be par unless either index closes below its trigger level, 75% of its initial level, on any day during the life of the notes and either index finishes below its initial level, in which case investors will lose 1% for every 1% that the lesser-performing index finishes below its initial level.
J.P. Morgan Securities LLC is the agent.
The notes will price on Sept. 30.
The Cusip number is 48132FLW4.
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