JPMorgan plans autocallable contingent interest notes linked to Gilead

By Angela McDaniels

Tacoma, Wash., May 3 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due May 24, 2017 linked to the common stock of Gilead Sciences, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by JPMorgan Chase & Co.

Each quarter, the notes will pay a contingent coupon at the rate of 11.5% per year if Gilead Sciences shares close at or above the trigger level, 70% 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 Gilead Sciences shares close at or above the initial share price on any quarterly 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 decline in the share price.

J.P. Morgan Securities LLC is the agent.

The notes will price May 6.

The Cusip number is 46646EBY7.

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