JPMorgan plans autocallable reverse exchangeables tied to Facebook

By Marisa Wong

Morgantown, W.Va., Sept. 8 – JPMorgan Chase & Co. plans to price 8.5% to 10.5% autocallable reverse exchangeable notes due Sept. 20, 2016 linked to Facebook, Inc. shares, according to an FWP filing with the Securities and Exchange Commission.

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

The notes will be called at par if the stock closes at or above the initial level on any review date other than the final date.

The payout at maturity will be par unless Facebook stock ever closes below the 62.5% trigger level during the life of the notes and finishes below the initial level, in which case the payout will be a number of Facebook shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.

J.P. Morgan Securities LLC is the agent.

The notes will price on Sept. 15 and settle on Sept. 18.

The Cusip number is 46625HNC0.

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