JPMorgan plans contingent income autocallable notes linked to Facebook

By Susanna Moon

Chicago, Sept. 19 – JPMorgan Chase & Co. plans to price contingent income autocallable securities due Sept. 29, 2017 linked to Facebook Inc. shares, according to an FWP with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon of at least 2.75% if Facebook stock closes at or above the 75% downside threshold level on the determination date for that quarter.

The notes will be called at par plus the contingent coupon if the stock closes at or above its initial price on any determination date other than the final date.

If the notes are not called and Facebook stock finishes at or above the downside threshold level, the payout at maturity will be par plus the contingent payment.

Otherwise, investors will receive a number of shares of Facebook stock equal to $10 divided by the initial share price or, at the issuer’s option, the cash value of those shares.

J.P. Morgan Securities LLC is the agent with Morgan Stanley Wealth Management handling distribution.

The notes are expected to price on Sept. 26.

The Cusip number is 48127H695.

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