JPMorgan to price autocallable contingent interest notes on General Motors

By Sarah Lizee

Olympia, Wash., Jan. 27 – JPMorgan Chase Financial Co. LLC plans to price 0% autocallable contingent interest notes due May 5, 2021 linked to the common stock of General Motors Co., according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by JPMorgan Chase & Co.

If the stock closes at or above the coupon barrier – 78% of the initial share price – on a quarterly review date, the issuer will pay a contingent coupon for that quarter at a rate of 8.25% per year. Otherwise, no coupon will be paid that quarter.

If the shares close at or above the initial price on any quarterly review date other than the first and final dates, the notes will be called at par plus the contingent coupon.

The payout at maturity will be par unless the shares finish below the 78% trigger price, in which case investors will be exposed to the share price decline from the initial price.

J.P. Morgan Securities LLC is the underwriter.

The notes will price on Jan. 30.

The Cusip number is 48132HUV2.

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