JPMorgan to price autocallable contingent interest notes on Netflix

By Sarah Lizee

Olympia, Wash., March 17 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due June 28, 2021 linked to the common stock of Netflix, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by JPMorgan Chase & Co.

If the stock closes at or above the coupon barrier – 67% of the initial share price – on a quarterly review date, the issuer will pay a contingent coupon for that quarter at a rate of 15% per year.

If the shares close at or above their initial price on any quarterly review date other than the first and final dates, the notes will be called at par plus the contingent coupon.

The payout at maturity will be par plus the final coupon, if any, unless the final share price is less than its 67% trigger price, in which case investors will be exposed to the share price decline from the initial price.

J.P. Morgan Securities LLC is the agent.

The notes will price on March 23.

The Cusip number 48132KHR9.

© 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.