JPMorgan plans autocallable contingent interest notes tied to Facebook

By Tali Rackner

Norfolk, Va., Oct. 26 – JPMorgan Chase & Co. plans to price autocallable contingent interest notes due Nov. 16, 2016 linked to the common stock of Facebook, Inc., according to an FWP filing with the Securities and Exchange Commission.

Each quarter, the notes pay a contingent coupon at an annual rate of 10.9% if Facebook shares close at or above the barrier level, 70% of the initial share price, on the review date for that quarter.

The notes will be automatically called at par of $1,000 plus the contingent coupon if Facebook shares close at or above the initial share price on any review date other than the final date.

The payout at maturity will be par plus the contingent coupon unless Facebook shares finish below the 70% trigger level, in which case investors will be exposed to any losses.

J.P. Morgan Securities LLC is the agent.

The notes will price Oct. 30 and settle Nov. 4.

The Cusip number is 48128GBH2.

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