JPMorgan plans callable contingent interest notes tied to two ETFs

By Wendy Van Sickle

Columbus, Ohio, July 12 – JPMorgan Chase Financial Co. LLC plans to price callable contingent interest notes due July 19, 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 be guaranteed by JPMorgan Chase & Co.

Every six months, the notes will pay a contingent coupon at an annual rate of at least 16% if each fund closes at or above its coupon barrier level, 70% of its initial level, on the review date for that period.

The notes will be callable at par on any interest payment date other than the first and final ones.

If the notes have not been called, the payout at maturity will be par plus the final coupon if both funds close above their trigger value, 70% of their respective initial levels.

Otherwise investors will lose 1% for each 1% decline of the worst-performing fund.

J.P. Morgan Securities LLC is the agent.

The notes will price on July 19.

The Cusip number is 48132C5C3.

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