JPMorgan changes payout for autocallable yield notes linked to Boeing

By Angela McDaniels

Tacoma, Wash., March 21 – JPMorgan Chase Financial Co. LLC amended the payout at maturity of its upcoming autocallable yield notes due March 26, 2020 linked to the common stock of Boeing Co., according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par unless Boeing shares close below the trigger value, 70% of the initial share price, on any day during the life of the notes and the final share price is less than the initial share price, in which case investors will lose 1% for every 1% that the final share price is less than the initial share price.

Prior to the amendment, the payout at maturity would have been par unless the stock finished below the trigger value, in which case investors would have then lost 1% for every 1% that the final share price declined from the initial share price.

The remaining terms are unchanged.

The interest rate is expected to be at least 8.01% per year and will be set at pricing. Interest will be payable quarterly.

The notes will be automatically called at par if the stock closes at or above the initial share price on June 24, 2019, Sept. 23, 2019 or Dec. 23, 2019.

The notes will be guaranteed by JPMorgan Chase & Co.

J.P. Morgan Securities LLC is the agent.

The notes will price March 22.

The Cusip number is 48130WK83.

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