JPMorgan to price trigger autocallables on SPDR Bank ETF, Stoxx Banks

By Marisa Wong

Morgantown, W.Va., Jan. 22 – JPMorgan Chase Financial Co. LLC plans to price trigger autocallable notes due Jan. 28, 2021 linked to the lesser performing of the SPDR S&P Bank exchange-traded fund and the Euro Stoxx Banks index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by JPMorgan Chase & Co.

Each quarter, the notes will pay a contingent coupon at an annualized rate of at least 8.5% if each asset closes at or above the coupon barrier, 65% of the initial level, on the observation date for that quarter.

The notes will be automatically called at par of $10 if each asset closes at or above the initial level on any quarterly observation date after six months.

If the notes are not called and the final level of each asset is greater than or equal to the 65% downside threshold, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline of the lesser performing asset.

J.P. Morgan Securities LLC is the agent.

The notes will price on Jan. 23.

The Cusip number is 48129K258.

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