JPMorgan plans contingent interest callable notes tied to S&P, Russell

By Susanna Moon

Chicago, Feb. 1 – JPMorgan Chase & Co. plans to price callable contingent interest notes due Feb. 15, 2017 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate between 9% and 11% if each index closes at or above its coupon barrier level, 70% of its initial level, on the review date for that quarter. The exact coupon will be set at pricing.

The notes are callable at par on any review date other than the first and final dates.

The payout at maturity will be par unless either index finishes below its 70% trigger level, in which case investors will be fully exposed to any losses of the worse performing index.

J.P. Morgan Securities LLC is the agent.

The notes will price on Feb. 8 and settle on Feb. 11.

The Cusip number is 48128GLZ1.

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