JPMorgan plans contingent interest autocallables tied to three stocks

By Susanna Moon

Chicago, July 28 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due Feb. 5, 2018 linked to the least performing of the common stocks of Bristol-Myers Squibb Co., Pfizer Inc. and Eli Lilly and Co., 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 quarterly coupon at an annual rate of 11% to 13% if each stock closes above its interest barrier, 65% of the strike level on July 28, on the observation date for that quarter. The exact coupon will be set at pricing.

The notes will be called at par if each stock closes at or above its initial level on any review date other than the final date.

The payout at maturity will be par unless any stock finishes below its 65% trigger level, in which case investors will be fully exposed to any losses in the worst performing stock.

J.P. Morgan Securities LLC is the agent.

The notes will price on July 29 settle on Aug. 5.

The Cusip number is 46646ERD6.

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