JPMorgan plans contingent interest autocallables linked to Facebook

By Susanna Moon

Chicago, July 18 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due Aug. 3, 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 notes will pay a contingent quarterly coupon at an annual rate of 8% to 10% if the stock closes at or above its coupon barrier level, 70% of its initial share price, on the review date for that quarter.

The notes will be called at par if the stock closes at or above its initial share price on any quarterly review other than the first and final review dates.

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

J.P. Morgan Securities LLC is the agent.

The notes will price on July 29 and settle on Aug. 3.

The Cusip number is 46646EPY2.

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