JPMorgan plans contingent income autocallables linked to Dow Chemical

By Susanna Moon

Chicago, Sept. 26 – JPMorgan Chase & Co. plans to price contingent income autocallable securities due Oct. 6, 2017 linked to Dow Chemical Co. shares, according to an FWP with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon of at least 2.15% if Dow Chemical stock closes at or above the 80% downside threshold level on the determination date for that quarter.

The notes will be called at par plus the contingent coupon if the stock closes at or above the redemption threshold on any determination date other than the final date.

The redemption threshold will be 105% of the initial share price for the first four determination dates, stepping up to 110% of the initial share price for the next four determination dates and to 115% of the initial share price for the final three determination dates.

If the notes are not called and Dow Chemical stock finishes at or above the downside threshold level, the payout at maturity will be par plus the contingent payment.

Otherwise, investors will receive a number of shares of Dow Chemical stock equal to $10 divided by the initial share price or, at the issuer’s option, the cash value of those shares.

J.P. Morgan Securities LLC is the agent with Morgan Stanley Wealth Management handling distribution.

The notes will price on Oct. 3.

The Cusip number is 48127H620.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.