JPMorgan plans contingent interest autocallables linked to Facebook

By Sarah Lizee

Olympia, Wash., Jan. 9 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due April 15, 2021 linked to the common stock of Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Each month, the notes pay a contingent coupon at the rate of 10.15% per year if the stock closes at or above the trigger value, 70% of its initial share price, on the review date for that month.

The notes will be automatically called at par if the stock closes at or above its initial share price on any review date other than the first, second, third, fourth, fifth and final review dates.

If the notes have not been called, the payout at maturity will be par unless the stock finishes below its initial level and has ever closed below its trigger value on any day during the life of the notes, in which case investors will lose 1% for every 1% that the stock finishes below its initial share price.

The notes are guaranteed by JPMorgan Chase & Co.

J.P. Morgan Securities LLC is the agent.

The notes will price on Jan. 10.

The Cusip number is 48132HLM2.

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