JPMorgan plans contingent coupon callable yield notes on D.R. Horton

By Angela McDaniels

Tacoma, Wash., Jan. 8 - JPMorgan Chase & Co. plans to price contingent coupon callable yield notes due Jan. 15, 2016 linked to the common stock of D.R. Horton, Inc., according to an FWP filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a coupon if D.R. Horton stock closes at or above the barrier level, 60% of the initial share price, on the observation date for that quarter. The coupon rate is expected to be at least 11% per year and will be set at pricing.

If the final share price is greater than or equal to the barrier level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.

The notes are callable at par on any interest payment date other than the final interest payment date.

J.P. Morgan Securities LLC is the agent.

The notes are expected to price Jan. 10 and settle Jan. 15.

The Cusip number is 48126NU70.

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