JPMorgan plans callable contingent interest notes tied to three stocks

By Susanna Moon

Chicago, March 8 – JPMorgan Chase & Co. plans to price callable contingent interest notes due April 3, 2018 linked to the least performing of the common stocks of Apple Inc., Phillips 66 and United Continental Holdings, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly interest rate at an annual rate of 9.5% to 11.5% if each stock closes at or above its interest barrier level, 50% of its initial level, on the review date for that month.

The notes may be called at par plus the contingent coupon on any quarterly call date beginning Oct. 3, 2016.

The payout at maturity will be par unless any stock closes below its 50% trigger level, in which case investors will be fully exposed to any losses of the worse performing stock.

J.P. Morgan Securities LLC is the agent.

The notes will price on March 24 and settle on March 30.

The Cusip number is 48128GRA0.

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