JPMorgan plans autocallable contingent buffered notes on oil & gas ETF

By Tali Rackner

Norfolk, Va., Jan. 7 – JPMorgan Chase & Co. plans to price autocallable contingent buffered return enhanced notes due Jan. 17, 2019 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be automatically called at par of $1,000 plus a call premium if the fund closes at or above the initial share price on Jan. 12, 2018 and Jan. 12, 2018. The call premium is expected to be at least 16.5% per year and will be set at pricing.

The payout at maturity will be par plus 1.5 times any fund gain.

Investors will receive par if the shares fall by up to 50% and will be fully exposed to losses if the fund finishes below the 50% contingent buffer level.

J.P. Morgan Securities LLC is the agent.

The notes will price on Jan. 12 and settle on Jan. 15.

The Cusip is 48128GJA9.

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