JPMorgan to price step-up autocallable buffered notes on S&P, Russell

By Sarah Lizee

Olympia, Wash., March 6 – JPMorgan Chase Financial Co. LLC plans to price 0% step-up autocallable buffered equity notes due March 31, 2026 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 are guaranteed by JPMorgan Chase & Co.

The notes will be automatically called at par of $1,000 plus a 7.5% annual call premium if each index closes at or above its call level on an annual review date other than the final date. The call level will be at most 102% of the initial level on the first review date and will step up by 2% per year to 112% on the sixth review date.

The payout at maturity will be par plus any gain of the lesser-performing index.

Investors will receive par if either index falls by up to 15% and will otherwise lose 1% for each 1% decline of the lesser-performing index beyond 15%.

J.P. Morgan Securities LLC is the agent.

The Cusip is 48130W4C2.

The notes will price on March 26.

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