JPMorgan plans autocallable contingent interest notes on three stocks

By Marisa Wong

Madison, Wis., Aug. 8 – JPMorgan Chase & Co. plans to price autocallable contingent interest notes due Aug. 29, 2019 linked to the least performing of the common stock of Apple Inc. and the class A common stock of Facebook, Inc. and Google Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a coupon of at least 10% per year if each stock closes at or above its trigger level, 60% of its initial share price, on the review date for that quarter.

If each stock closes at or above its respective initial share price on any review date other than the final review date, the notes will be called at par plus the coupon.

If the notes have not been called and each stock finishes at or above its trigger price, the payout at maturity will be par plus the coupon. Otherwise, investors will receive a number of shares of the least-performing stock equal to $1,000 divided by that stock’s initial 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 Aug. 26 and settle on Aug. 29.

The Cusip number is 48127DWQ7.

© 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.