JPMorgan plans to price contingent income autocallables on Apple

By Marisa Wong

Madison, Wis., March 2 – JPMorgan Chase & Co. plans to price contingent income autocallable securities due March 9, 2018 linked to Apple Inc. shares, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly payment of at least 2.5% if the shares close at or above the 80% downside threshold level on the observation date for that quarter.

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

The payout at maturity will be par plus the final coupon unless the shares finish below the 80% downside threshold level, in which case investors will receive a number of Apple shares equal to $10 divided by the initial price or, at the issuer’s option, the cash equivalent.

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

The notes will price on March 6.

The Cusip number is 48127R164.

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