JPMorgan plans contingent income autocallables linked to Wells Fargo

By Tali Rackner

Norfolk, Va., Jan. 13 – JPMorgan Chase Financial Co. LLC plans to price contingent income autocallable securities due Jan. 24, 2020 linked to the common stock of Wells Fargo & Co., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by JPMorgan Chase & Co.

The notes will pay a contingent quarterly coupon at an annualized rate of at least 8.75% if Wells Fargo closes at or above its 80% downside threshold level on the observation date for that quarter.

The notes will be redeemed at par of $10 plus the contingent payment if the stock closes at or above its price on any determination date other than the final date.

The payout at maturity will be par plus the final coupon unless Wells Fargo shares below the 80% downside threshold, in which case investors will be fully exposed to any losses.

J.P. Morgan Securities LLC is the agent.

The notes will price on Jan. 20.

The Cusip number is 48128P225.

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