JPMorgan plans 8%-10% autocallable reverse exchangeables on Facebook

By Toni Weeks

San Luis Obispo, Calif., Sept. 5 – JPMorgan Chase & Co. plans to price 8% to 10% upside autocallable reverse exchangeable notes due Sept. 24, 2015 linked to the common stock of Facebook, Inc., according to an FWP filing with the Securities and Exchange Commission.

Interest is payable monthly.

The notes will be called at par plus accrued interest if Facebook stock closes at or above the initial share price on March 19, 2015 or June 19, 2015.

The payout at maturity will be par in cash, unless Facebook stock ever closes below the initial price by more than 30% and finishes below the initial share price, in which case investors will receive a number of Facebook shares equal to $1,000 divided by the initial share price or, at JPMorgan’s option, the cash equivalent.

The notes (Cusip: 48127DZN1) are expected to price Sept. 19 and settle Sept. 24.

J.P. Morgan Securities LLC is the agent.

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