JPMorgan plans contingent interest autocallables tied to S&P, Russell

By Angela McDaniels

Tacoma, Wash., Jan. 6 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due April 12, 2018 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by JPMorgan Chase & Co.

Each month, the notes will pay a contingent coupon if each index closes at or above its trigger value, 70% of its initial level, on the review date for that month. The contingent coupon rate is expected to be at least 9% per year and will be set at pricing.

The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on July 10, 2017, Oct. 10, 2017 or Jan. 9, 2018.

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

J.P. Morgan Securities LLC is the agent.

The notes will price Jan. 9.

The Cusip number is 46646QTW5.

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