JPMorgan plans contingent interest autocallables tied to four stocks

By Devika Patel

Knoxville, Tenn., June 18 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due June 30, 2021 linked to the least performing of the common stocks of Apple Inc., Amazon.com, Inc. and Netflix, Inc. and the class A common stock of Alphabet Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by JPMorgan Chase & Co.

The notes will pay a contingent monthly coupon at an annual rate of at least 9% if each stock closes at or above its interest barrier level, 50% of its initial level, on the review date for that month. The exact coupon will be set at pricing. If the coupon is not paid on a review date, it may be paid on a future review date if the stock closes above the interest barrier on any subsequent review date.

Beginning on Dec. 26, 2018, the notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any monthly review date other than the final one.

The payout at maturity will be par plus the contingent coupon and any previously unpaid coupons unless any stock finishes below its 50% trigger level, in which case investors will lose 1% for each 1% decline of the least-performing stock from its initial level.

J.P. Morgan Securities LLC is the agent.

The notes (Cusip: 48129M3K0) will price on June 25 and settle June 28.

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