JPMorgan plans contingent income autocallable notes tied to Facebook

By Devika Patel

Knoxville, Tenn., Dec. 1 – JPMorgan Chase & Co. plans to price contingent income autocallable securities due Dec. 7, 2018 linked to Facebook, Inc. class A common shares, according to a FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 9.75% if the stock closes at or above the 70% coupon barrier level on the determination date for that quarter.

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

The payout at maturity will be par plus the final coupon unless the stock finishes below the 70% trigger level, in which case investors will be fully exposed to any losses.

J.P. Morgan Securities LLC is the agent.

The notes (Cusip: 48128A202) will price on Dec. 4 and settle three business days after pricing.

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