JPMorgan plans contingent interest autocallables on Russell, S&P

By Sarah Lizee

Olympia, Wash., May 18 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due June 4, 2021 linked to the least performing of the S&P 500 index and the Russell 2000 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 13% to 15% per year if each index closes at or above its coupon barrier, 75% of its initial level, on the associated review date.

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 autocall review date other than the first and final ones.

If the notes have not been called, the payout at maturity will be par unless either index finishes below its trigger value, 75% of its initial level, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level.

The notes are guaranteed by JPMorgan Chase & Co.

J.P. Morgan Securities LLC is the agent.

The notes will price on May 29.

The Cusip number is 48132KS71.

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