JPMorgan plans 14% contingent interest autocalls tied to three stocks

By Susanna Moon

Chicago, July 20 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due Jan. 29, 2021 linked to the least performing of the common stocks of Lockheed Martin Corp., United States Steel Corp. and Wells Fargo & Co., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 14% if each stock closes at or above its 65% coupon barrier on the review date for that quarter.

The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any review date other than the final date.

The payout at maturity will be par unless any stock finishes below its 65% trigger level, in which case investors will be fully exposed to any losses of the worst performing stock.

The notes are guaranteed by JPMorgan Chase & Co.

J.P. Morgan Securities LLC is the agent.

The notes will price on July 26.

The Cusip number is 48129MP34.

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