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JPMorgan plans contingent interest autocalls on Russell, Nasdaq
By Sarah Lizee
Olympia, Wash., Sept. 11 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due March 18, 2021 linked to the least performing of the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 7.6% per year if each index closes at or above its coupon trigger value, 70% of its initial level, on the review date for that quarter.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date other than the final review date.
If the notes have not been called, the payout at maturity will be par unless any index finishes below its initial level and any index has ever closed below 70% of its initial level during the life of the notes, in which case investors will lose 1% for every 1% that the least-performing index declines from its initial level.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
The notes will price on Sept. 13.
The Cusip number is 48132FLZ7.
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