JPMorgan plans autocallable contingent interest notes tied to ING

By Toni Weeks

San Luis Obispo, Calif., Aug. 5 – JPMorgan Chase & Co. plans to price autocallable contingent interest notes due Aug. 24, 2016 linked to the ordinary shares of ING Groep NV, according to an FWP filing with the Securities and Exchange Commission.

Each quarter, the notes pay a contingent coupon at the rate of 12.3% per year if ING shares close at or above the trigger level, 80% of the initial share price, on the review date for that quarter.

The notes will be automatically called at par plus the contingent coupon if ING shares close at or above the initial share price on any review date other than the final review date.

The payout at maturity will be par plus the final contingent interest payment unless the final share price is less than the trigger level, in which case investors will be fully exposed to the stock’s decline from its initial share price.

The final stock price will be the average of the closing share prices on the five trading days ending Aug. 19, 2016.

J.P. Morgan Securities LLC is the agent.

The notes will price Aug. 7 and settle Aug. 12.

The Cusip number is 48125UJ94.

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