JPMorgan plans callable contingent interest notes on index, fund

By Tali Rackner

Minneapolis, July 20 – JPMorgan Chase Financial Co. LLC plans to price callable contingent interest notes due July 28, 2021 linked to the lesser performing of the Euro Stoxx 50 index 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 will be guaranteed by JPMorgan Chase & Co.

Each quarter, the notes pay a contingent coupon at an annual rate of at least 9.5% if each underlier closes at or above its interest barrier, 70% of its initial level, on the review date for that quarter. The exact coupon will be set at pricing.

The notes are callable in whole but not in part at par plus the contingent coupon, if any, on any interest payment date other than the first and final dates.

If the notes have not been called, the payout at maturity will be par plus the contingent coupon unless either underlier finishes below its trigger value, 60% of its initial level, in which case investors will lose 1% for each 1% decline of the least-performing underlier from its initial level.

J.P. Morgan Securities LLC is the agent.

The notes will price on July 21 and settle on July 28.

The Cusip number is 46647MYP2.

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