JPMorgan changes contingent coupon, maturity for autocalls on Amazon

By Sarah Lizee

Olympia, Wash., Aug. 8 – JPMorgan Chase Financial Co. LLC changed the contingent coupon, maturity date and pricing date for its planned autocallable contingent interest notes linked to the common stock of Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The contingent coupon rate was changed to 9% per year, from 8.15% per year previously.

The maturity date is Nov. 24, 2020, changed from Nov. 13, 2020 previously.

The notes will price on Aug. 19, changed from Aug. 8 previously.

Each quarter, the notes will pay a contingent coupon if the stock closes at or above the trigger value, 75% of the initial share price, on the review date for that quarter.

The notes will be automatically called at par plus the contingent coupon if the stock closes at or above its initial share price on any quarterly review date other than the first and final review dates.

If the notes have not been called, the payout at maturity will be par unless the stock closes below its trigger value during the life of the notes and finishes below its initial share price, in which case investors will lose 1% for every 1% that Amazon stock finishes below its initial share price.

The notes will be guaranteed by JPMorgan Chase & Co.

J.P. Morgan Securities LLC is the agent.

The Cusip number is 48132CF24.

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