JPMorgan to price cash-settled equity notes linked to Voya Financial

By Marisa Wong

Morgantown, W.Va., Jan. 29 – JPMorgan Chase Financial Co. LLC plans to price cash-settled equity-linked notes due May 1, 2023 tied to the common stock of Voya Financial, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by JPMorgan Chase & Co.

The notes will pay a semiannual coupon. The interest rate will be set at pricing.

The notes may be converted on any business day prior to the 21st trading day immediately before the maturity date.

The amount of cash payable per $1,000 principal amount of notes at maturity or upon early conversion will equal the sum of the daily values for each of the 20 consecutive trading days ending on the second trading day before the maturity date or, in the case of early conversion, the conversion date.

The daily value for each valuation date will be the greater of $50 and the alternative settlement amount, which is $50 times the final share price divided by the threshold price. The threshold will be set at pricing.

The initial price will be the average of the volume-weighted average prices of Voya’s stock over the five consecutive trading days immediately after the pricing date.

The notes will not be callable or putable.

J.P. Morgan Securities LLC is the bookrunner.

The notes will price on Jan. 30.

The Cusip number is 46647MQL0.

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