JPMorgan plans contingent coupon autocallables linked to three ETFs

By Devika Patel

Knoxville, Tenn., June 16 – JPMorgan Chase Financial Co. LLC plans to price contingent coupon autocallable yield notes due June 25, 2019 linked to the lesser performing of the iShares U.S. Real Estate exchange-traded fund, the VanEck Vectors Semiconductor ETF and the SPDR S&P Bank ETF, 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 11.85% per year unless any ETF closes below its coupon barrier level, 75% of its initial level, on the observation date for that quarter. The exact coupon will be set at pricing.

Beginning Sept. 20, the notes will be automatically called at par if all ETFs close at or above their respective initial levels on any quarterly observation date other than the final one.

The payout at maturity will be par plus the final coupon unless any ETF finishes below its 75% trigger level, in which case investors will lose 1% for each 1% decline of the worst performing ETF.

J.P. Morgan Securities LLC is the agent.

The notes (Cusip: 46647MHY2) will price on June 20 and settle on June 23.

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