JPMorgan plans contingent coupon callable notes linked to Apple

By Marisa Wong

Madison, Wis., June 2 – JPMorgan Chase & Co. plans to price contingent coupon callable yield notes due June 22, 2017 linked to the common stock of Apple Inc., according to an FWP filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at the rate of at least 7.4% per year if the stock closes at or above its barrier level, 70% of its initial share price, on the observation date for that quarter.

The payout at maturity will be par unless the stock finishes below its barrier level, in which case investors will be fully exposed to the stock’s decline.

The notes will be callable at par on any interest payment date other than the final one.

J.P. Morgan Securities LLC is the agent.

The notes will price June 18 and settle June 23.

The Cusip number is 48125UVV1.

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