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JPMorgan to price 7%-9% autocallable yield notes linked to Facebook
By Angela McDaniels
Tacoma, Wash., June 21 – JPMorgan Chase Financial Co. LLC plans to price autocallable yield notes due July 13, 2017 linked to the class A common stock of Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
The interest rate is expected to be 7% to 9% per year and will be set at pricing. Interest will be payable monthly.
The notes will be automatically called at par if Facebook shares close at or above the initial share price on Jan. 9, 2017 or April 10, 2017.
If the notes have not been called, the payout at maturity will be par unless the final share price is less than the initial share price and Facebook shares close below the trigger value, 67.5% of the initial share price, on any day during the life of the notes, in which case investors will lose 1% for every 1% that the final share price is less than the initial share price.
J.P. Morgan Securities LLC is the agent.
The notes will price July 8.
The Cusip number is 46646EJQ6.
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