JPMorgan to price contingent interest autocallable tied to two ETFs

By Wendy Van Sickle

Columbus, Ohio, Nov. 16 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due Dec. 4, 2023 linked to the lesser performing of the VanEck Vectors Gold Miners ETF and the SPDR S&P Oil & Gas Exploration & Production ETF, 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 quarterly contingent coupon if each ETF closes at or above its interest barrier level, 70% of its initial level, on the review date for that period. The contingent coupon rate will be at least 12.85% per year and will be set at pricing.

The notes will be automatically called at par plus the contingent coupon if each ETF closes at or above its initial level on any semiannual review date other than the first, second, third and final ones.

If the notes have not been called, the payout at maturity will be par plus the final coupon, if any, unless either ETF finishes below its trigger value, 60% of its initial level, in which case investors will lose 1% for every 1% that the least-performing ETF finishes below its initial level.

J.P. Morgan Securities LLC is the agent.

The notes (Cusip: 48130WCX7) will price on Nov. 29 and settle on Dec. 4.

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