JPMorgan plans contingent interest autocallables linked to S&P, Nasdaq

By Sarah Lizee

Olympia, Wash., May 9 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due Aug. 13, 2020 linked to the lesser performing of the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by JPMorgan Chase & Co.

Each quarter, the notes will pay a contingent coupon at the rate of at least 9.05% per year if each index closes at or above its trigger value, 70% of its initial level, on the review date for that quarter. The exact contingent coupon rate will be set at pricing.

The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on Aug. 12, 2019, Nov. 11, 2019, Feb. 10, 2020 or May 11, 2020.

If the notes have not been called, the payout at maturity will be par unless either index closes below its trigger value during the life of the notes and either index finishes below its initial level, in which case investors will lose 1% for every 1% that the lesser-performing index finishes below its initial level.

J.P. Morgan Securities LLC is the agent.

The notes will price May 10.

The Cusip number is 48132CLT8.

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