JPMorgan plans contingent interest autocallables on three bank stocks

By Marisa Wong

Morgantown, W.Va., March 7 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due March 12, 2020 linked to the least performing of the common stocks of Comerica Inc., Fifth Third Bancorp and U.S. Bancorp, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by JPMorgan Chase & Co.

The notes will pay a contingent quarterly coupon at an annual rate of at least 12.75% if each stock closes at or above its 75% coupon barrier on the related quarterly review date.

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

The payout at maturity will be par unless any stock finishes below its 75% trigger level, in which case investors will be fully exposed to any decline of the worst performing stock.

J.P. Morgan Securities LLC is the agent.

The notes will price on March 8.

The Cusip number is 48129MCR5.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.