JPMorgan plans 9%-11% autocallable reverse exchangeables on Facebook

By Susanna Moon

Chicago, Sept. 24 – JPMorgan Chase & Co. plans to price 9% to 11% upside autocallable reverse exchangeable notes due Oct. 13, 2015 linked to Facebook Inc. shares, according to an FWP with the Securities and Exchange Commission.

Interest will be payable monthly, with the exact rate to be set at pricing.

The notes will be called at par if Facebook stock closes at or above the initial share price on April 7, 2015 or July 7, 2015.

The payout at maturity will be par unless Facebook stock ever closes below the buffer level, 75% of the initial share price, during the life of the notes and finishes below the initial price, in which case the payout will be a number of Facebook shares equal to $1,000 divided by the initial share price.

J.P. Morgan Securities LLC is the agent.

The notes will price on Oct. 7 and settle on Oct. 10.

The Cusip number is 48127DD88.

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