JPMorgan plans contingent interest notes tied to BRIC currency basket

By Susanna Moon

Chicago, Sept. 10 - JPMorgan Chase & Co. plans to price contingent interest notes due Sept. 30, 2015 linked to a basket of four equally weighted currencies relative to the dollar, according to an FWP filing with the Securities and Exchange Commission.

The underlying currencies are the Brazilian real, the Russian ruble, Indian rupee and Chinese renminbi.

If the basket closes at or above its initial level on any annual review date, the notes will pay a coupon of 15.5% to 17.5%.

The payout at maturity will be par plus at least 100% of any basket gain.

Investors will receive par if the basket falls by up to 15% and will be fully exposed to any losses if the basket drops below the 85% trigger level.

J.P. Morgan Securities LLC is the agent.

The notes will price on Sept. 25 and settle on Sept. 28.

The Cusip number is 48125V5E6.

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