JPMorgan plans trigger autocallable contingent yield notes on Apollo

By Sarah Lizee

Olympia, Wash., Oct. 17 – JPMorgan Chase Financial Co. LLC plans to price trigger autocallable contingent yield notes due Oct. 21, 2022 linked to the common stock of Apollo Global Management, LLC, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by JPMorgan Chase & Co.

Each quarter, the notes will pay a contingent coupon at the rate of 10% per year if the shares close at or above the coupon barrier, 50% to 55% of the initial share price, on the observation date for that quarter.

After six months, the notes will be automatically called at par of $10 if the shares close at or above the initial share price on any quarterly observation date.

If the notes are not called and the final share price is greater than or equal to the downside threshold level, 50% to 55% of the initial share price, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.

UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.

The notes will price on Oct. 18.

The Cusip number is 48132G336.

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