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JPMorgan plans capped autocallable return enhanced notes on MSCI Europe
By Jennifer Chiou
New York, March 13 - JPMorgan Chase & Co. plans to price 0% capped autocallable return enhanced notes due April 1, 2015 linked to the MSCI Europe index, according to an FWP with the Securities and Exchange Commission.
If the index closes at or above the call level - 104.5% of the initial index level - on any of three quarterly call dates, the notes will be called at par plus an annualized call premium of at least 8.55%.
If the notes are not called and the index finishes above the initial level, the payout at maturity will be par plus two times any index gain, subject to a maximum return of at least 8.55%. Investors will be fully exposed to any index decline.
The final index level will be the average of the index closing levels on the five trading dates ending March 27, 2015.
The exact terms will be set at pricing.
The notes (Cusip: 48127DBR8) are expected to price on March 14 and settle on March 19.
J.P. Morgan Securities LLC will be the agent.
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