JPMorgan plans to price contingent interest autocalls on two stocks

By Sarah Lizee

Olympia, Wash., Nov. 14 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due Nov. 18, 2022 linked to the least performing of the common stocks of Exxon Mobil Corp. and UnitedHealth Group, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by JPMorgan Chase & Co.

Each quarter, the notes will pay a contingent coupon at the rate of between 8.35% and 9.35% per year if each stock closes at or above its interest barrier, 60% of its initial share price, on the review date for that period.

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

If the notes have not been called, the payout at maturity will be par unless any stock finishes below its trigger level, 60% of its initial level, in which case investors will lose 1% for every 1% that the least-performing stock finishes below its initial share price.

J.P. Morgan Securities LLC is the agent.

The notes will price on Nov. 15.

The Cusip number 48132FL46.

© 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.