JPMorgan plans to price review notes linked to Apple

By Toni Weeks

San Luis Obispo, Calif., May 12 – JPMorgan Chase & Co. plans to price 0% review notes due June 2, 2016 linked to the common stock of Apple Inc., according to an FWP filing with the Securities and Exchange Commission.

The notes will be called at par plus a premium of 16.75% per year if Apple stock closes at or above its initial share price on any quarterly review date.

If the notes are not called and the final share price is less than the initial share price by up to 20%, the payout at maturity will be par. Otherwise, investors will lose 1% for each 1% that the final share price is less than the initial share price.

The final share price will be the average of the closing share prices on the five trading days ending May 27, 2016.

The notes (Cusip: 48125URY0) are expected to price May 15 and settle May 20.

J.P. Morgan Securities LLC is the agent.

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