JPMorgan plans autocallable reverse exchangeable notes tied to stocks

By Marisa Wong

Madison, Wis., April 10 – JPMorgan Chase & Co. plans to price autocallable reverse exchangeable notes due Oct. 20, 2016 linked to the least performing of the common stocks of Home Depot, Inc., Costco Wholesale Corp., Target Corp. and Amazon.com, Inc., according to an FWP with the Securities and Exchange Commission.

The coupon will be at least 9.3%, payable monthly. The exact rate will be set at pricing.

The notes will be called at par if each stock closes 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 unless any stock finishes below the trigger price, 70% of the initial price, in which case the payout will be a number of shares of the worst performing stock equal to $1,000 divided by the initial share price or, at the issuer’s election, the cash value of those shares.

J.P. Morgan Securities LLC is the agent.

The notes will price on April 17 and settle on April 22.

The Cusip number is 46625HKH2.

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