JPMorgan plans autocallable contingent interest notes linked to ETFs

By Marisa Wong

Morgantown, W.Va., Nov. 2 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due Nov. 8, 2021 linked to the lesser performing of the SPDR S&P 500 ETF trust and the iShares Russell 2000 ETF, according to a 424B2 filing with the Securities and Exchange Commission.

JPMorgan Chase & Co. is the guarantor.

The notes will pay a contingent semiannual coupon at an annual rate of at least 7% if each fund closes at or above its coupon barrier level, 60% of its initial level, on the applicable semiannual review date.

The notes will be automatically called at par plus the contingent coupon if each fund closes at or above its initial level on any semiannual review date other than the first and final review dates.

If the notes have not been called and both funds finish at or above their 60% trigger values, the payout at maturity will be par. Otherwise, investors will lose 1% for each 1% decline of the lesser-performing fund.

J.P. Morgan Securities LLC is the agent.

The notes will price on Nov. 3.

The Cusip number is 46646E5P3.

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