JPMorgan plans 10.3% contingent rate callables on biotech, oil funds

By Susanna Moon

Chicago, Feb. 7 – JPMorgan Chase Financial Co. LLC plans to price callable contingent interest notes due Feb. 17, 2022 linked to the lesser performing of the SPDR S&P Biotech 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 pay a contingent semiannual coupon at an annual rate of 10.3% if each underlying asset closes at or above its 55% coupon barrier on the review date for that period.

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

The payout at maturity will be par unless either asset finishes below its 55% trigger level, in which case investors will be exposed to any losses of the worse performing fund.

The notes are guaranteed by JPMorgan Chase & Co.

J.P. Morgan Securities LLC is the agent.

The notes will price on Feb. 15.

The Cusip number is 48130WUG4.

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