JPMorgan plans upside autocallable reverse exchangeables on Facebook

By Jennifer Chiou

New York, Oct. 3 – JPMorgan Chase & Co. plans to price upside autocallable reverse exchangeable notes due Oct. 16, 2015 linked to the common stock of Facebook, Inc., according to an FWP with the Securities and Exchange Commission.

The notes will carry a coupon of 6% to 7% per year. Interest will be payable monthly, and the exact rate will be set at pricing.

The notes will be called at par if Facebook stock closes at or above the initial share price on April 10, 2015 or July 10, 2015.

If the notes are not called, the payout at maturity will be par unless Facebook stock closes below the buffer level, 65% 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.

The notes (Cusip: 48127DK23) will price on Oct. 10 and settle on Oct. 16.

J.P. Morgan Securities LLC is the agent.

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