JPMorgan plans autocallable contingent interest notes linked to BofA

By Devika Patel

Knoxville, Tenn., Sept. 20 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due Oct. 11, 2018 linked to Bank of America Corp. common shares, 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 quarterly coupon at an annual rate of at least 10% if the stock closes at or above the 78.05% coupon barrier level on the determination date for that quarter. The exact coupon will be set at pricing.

The notes will be called at par plus the contingent coupon if the stock closes at or above the initial level on any quarterly review date other than the final one beginning on Jan. 4, 2018.

The payout at maturity will be par plus the final coupon unless the stock finishes below the 78.05% trigger level, in which case investors will lose 1% for each 1% decline of the stock from its initial level.

J.P. Morgan Securities LLC is the agent.

The notes (Cusip: 48129HAL1) will price on Sept. 21 and settle Sept. 26.

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