JPMorgan plans to price review notes linked to biotech ETF, S&P 500

By Wendy Van Sickle

Columbus, Ohio, Dec. 9 – JPMorgan Chase Financial Co. LLC plan to price 0% review notes due Dec. 29, 2020 linked to the lesser performing of the S&P 500 index and the SPDR S&P Biotech exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by JPMorgan Chase & Co.

The notes will be called at par plus a premium if each underlier closes at or above its initial level on any annual review date. The call premium is expected to be at least 14% per year and will be set pricing.

If the notes are not called and the final level of each underlier is greater than or equal to its trigger value, 50% of its initial level, the payout at maturity will be par plus 6%. Otherwise, investors will lose 1% for each 1% that the lesser-performing underlier's final level is less than its initial level.

J.P. Morgan Securities LLC is the agent.

The notes will price Dec. 23.

The Cusip number is 46646QER2.

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