JPMorgan plans contingent coupon callable notes tied to General Motors

By Toni Weeks

San Luis Obispo, Calif., Feb. 11 - JPMorgan Chase & Co. plans to price contingent coupon callable yield notes due Feb. 22, 2016 linked to General Motors Co. shares, according to an FWP with the Securities and Exchange Commission.

If the stock closes at or above its barrier level, 70% of its initial level, on a quarterly observation date, the notes will pay a coupon at an annualized rate of at least 10.25% for that quarter. The actual coupon will be set at pricing.

The payout at maturity will be par General Motors stock finishes below its barrier level, in which case investors will be fully exposed to the decline in the stock price from the initial price.

The notes are callable at par on any interest payment date.

J.P. Morgan Securities LLC is the agent.

The notes (Cusip: 48126N4B0) are expected to price Feb. 14 and settle Feb. 20.

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