JPMorgan plans callable contingent interest notes linked to ETF’s

By Wendy Van Sickle

Columbus, Ohio, May 12 – JPMorgan Chase Financial Co. LLC plans to price callable contingent interest notes due May 27, 2020 linked to the least performing of the SPDR S&P Biotech exchange-traded fund and the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by JPMorgan Chase & Co.

Each quarter, the notes pay a contingent coupon at an annual rate of 9.5% to 10.25% if each ETF closes at or above its trigger value, 55% of its initial level, on the review date for during that quarter.

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

If the notes have not been called, the payout at maturity will be par unless either ETF below its trigger value, in which case investors will be fully exposed to the loss of the least performing ETF.

J.P. Morgan Securities LLC is the agent.

The notes will price on May 19.

The Cusip number is 46647MBB8.

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