JPMorgan plans contingent income autocallable notes linked to Facebook

By Susanna Moon

Chicago, Aug. 14 – JPMorgan Chase & Co. plans to price contingent income autocallable securities due Aug. 24, 2018 linked to class A common stock of Facebook, Inc. shares, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 10.5% if Facebook shares close at or above the barrier level, 75% of the initial share price, on the determination date for that quarter.

The notes will be called at par plus the contingent coupon if Facebook shares close at or above the initial share price on any determination date other than the final determination date.

The payout at maturity will be par plus the final contingent quarterly payment unless Facebook stock finishes below the 75% barrier level, in which case investors will receive a number of Facebook shares equal to $10 divided by the initial stock price or, at the issuer’s option, the cash equivalent.

J.P. Morgan Securities LLC is the agent.

The notes will price on Aug. 21.

The Cusip number is 48127V546.

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