JPMorgan plans contingent interest autocallables tied to financial stocks

By Wendy Van Sickle

Columbus, Ohio, March 24 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due Oct. 4, 2018 linked to the common stocks of Citigroup Inc., Bank of America Corp. and Wells Fargo & Co., according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by JPMorgan Chase & Co.

The notes will pay a contingent quarterly coupon at an annual rate of at least 9% if each stock closes at or above its coupon barrier, 65% of its initial level, on the review date for that quarter.

The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any review date other than the first and final dates.

The payout at maturity will be par unless any stock finishes below its 65% trigger level, in which case investors will be fully exposed to any losses of the worst performing stock.

J.P. Morgan Securities LLC is the agent.

The notes will price on March 29.

The Cusip number is 46646QPA7.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.