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JPMorgan plans to price review notes due 2023 linked to ETFs, index
By Sarah Lizee
Olympia, Wash., May 16 – JPMorgan Chase Financial Co. LLC plans to price 0% review notes due May 25, 2023 linked to the lesser performing of the Stoxx Europe 600 Banks index, the SPDR S&P Oil & Gas Exploration & Production ETF and the iShares MSCI Emerging Markets ETF, 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 underlier closes at or above its initial level on any of the first three annual review dates and 60% of its initial level on the final annual review date. The call premium is expected to be at least 13.55% per year and will be set at pricing.
If the notes have not been called, investors will lose 1% for each 1% that the lesser-performing underlier finishes below its initial level.
J.P. Morgan Securities LLC is the agent.
The notes will price May 20.
The Cusip number is 48132CA60.
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