JPMorgan plans 10% contingent interest callables on biotech, oil funds

By Susanna Moon

Chicago, July 31 – JPMorgan Chase Financial Co. LLC plans to price callable contingent interest notes due Aug. 18, 2021 linked to the lesser performing of the SPDR S&P Biotech ETF and the SPDR S&P Oil & Gas Exploration & Production Trust, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent semiannual coupon at an annual rate of at least 10% if each fund closes at or above its 60% coupon barrier on the review date for that period.

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

The payout at maturity will be par unless either fund closes below its 60% trigger level, in which case investors will be fully 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 Aug. 24.

The Cusip number is 48129MR65.

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