JPMorgan to price callable contingent interest notes tied to index, ETF

By Sarah Lizee

Olympia, Wash., Aug. 15 – JPMorgan Chase Financial Co. LLC plans to price callable contingent interest notes due Aug. 19, 2022 linked to the lesser performing of the S&P 500 index and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by JPMorgan Chase & Co.

The notes will pay a contingent semiannual coupon at an annual rate of 10.15% if both assets close at or above their interest barriers, 50% of their initial levels, on the review date for that period. The exact contingent interest rate will be set at pricing.

JPMorgan may call the notes in whole at par on any interest payment date other than the final one.

If the notes have not been called, the payout at maturity will be par plus the final interest payment unless either asset finishes below its 50% trigger value, in which case investors will lose 1% for each 1% decline of the lesser-performing asset from its initial level.

J.P. Morgan Securities LLC is the agent.

The notes will price on Aug. 16.

The Cusip number is 48132FBM7.

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