JPMorgan plans contingent interest autocallables linked to Ulta Beauty

By Angela McDaniels

Tacoma, Wash., Sept. 30 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due Jan. 7, 2021 linked to the common stock of Ulta Beauty, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon if the stock closes at or above the trigger level, 70% of its initial share price, on the review date for that quarter. The contingent interest rate is expected to be at least 11.85% per year and will be set at pricing.

The notes will be automatically called at par if Ulta Beauty stock closes at or above its initial share price on April 3, 2020, July 6, 2020 or Oct. 5, 2020.

The payout at maturity will be par unless Ulta Beauty stock finishes below the trigger level, in which case investors will be fully exposed to the stock’s decline from its initial share price.

The notes will be guaranteed by JPMorgan Chase & Co.

J.P. Morgan Securities LLC is the agent.

The notes will price Oct. 3.

The Cusip number is 48132FRQ1.

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