JPMorgan plans contingent coupon callable notes on General Electric

By Susanna Moon

Chicago, July 14 – JPMorgan Chase Financial Co. LLC plans to price contingent coupon callable yield notes due Jan. 19, 2018 linked to General Electric Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by JPMorgan Chase & Co.

The notes will pay a contingent quarterly coupon at an annual rate of 6.3% if the stock closes at or above the coupon barrier level, 80% of the initial level, on the valuation date for that quarter. The exact contingent coupon rate will be set at pricing.

The notes are callable at par plus the contingent coupon on any interest payment date other than the final date.

The payout at maturity will be par plus the contingent coupon unless the stock finishes below the 80% trigger level, in which case investors will be fully exposed to any losses.

J.P. Morgan Securities LLC is the underwriter.

The notes will price on July 15 and settle on July 20.

The Cusip number is 46646EPQ9.

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