JPMorgan plans seven-year step-up autocallables on S&P Economic Cycle

By Devika Patel

Knoxville, Tenn., Dec. 17 – JPMorgan Chase Financial Co. LLC plans to price step-up autocallable notes due Dec. 23, 2025 linked to the S&P Economic Cycle Factor Rotator index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by JPMorgan Chase & Co.

The notes will be called at an annual call premium of at least 7% increasing by 7% per year up to at least 42% on Dec. 18, 2024 if the index closes at or above its applicable call value on any of the six annual observation dates beginning on Dec. 18, 2019. The exact call premium will be set at pricing.

The call value is 101.65% for the first review date stepping up by 1.65% per year to 109.9% for the final review date on Dec. 18, 2024.

If the index finishes above its initial level, the payout at maturity will be par plus the index gain.

Otherwise, investors will receive par.

J.P. Morgan Securities LLC is the agent.

The notes (Cusip: 48130WLP4) will price on Dec. 18 and settle on Dec. 21.

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