JPMorgan plans autocallable contingent interest notes linked to GM

By Jennifer Chiou

New York, March 31 – JPMorgan Chase & Co. plans to price autocallable contingent interest notes due April 20, 2016 linked to General Motors Co. shares, according to an FWP with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 10.2% if GM shares close at or above the 80% barrier level on a review date for that quarter.

The notes will be called at par plus the coupon if the shares close at or above the initial share price on any review date other than the final review date.

The payout at maturity will be par plus the coupon unless the stock finishes below the 80% trigger level, in which case investors will be fully exposed to any losses.

The notes (Cusip: 48125UMH2) will price on April 2 and settle on April 8.

J.P. Morgan Securities LLC is the agent.

© 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.