JPMorgan plans trigger phoenix autocallable notes tied to First Solar

By Jennifer Chiou

New York, June 25 – JPMorgan Chase & Co. plans to price trigger phoenix autocallable optimization securities due Dec. 31, 2015 linked to First Solar, Inc. shares, according to an FWP with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 10% to 12% if First Solar shares close at or above the trigger price – 54.5% of the initial price – on an observation date for that quarter.

The notes will be called at par plus the contingent coupon if the stock closes at or above the initial price on any quarterly observation date.

If the notes are not called and First Solar shares finish at or above the trigger price, the payout at maturity will be par plus the contingent coupon.

Otherwise, investors will be fully exposed to any losses.

The notes (Cusip: 481246841) are expected to price on June 26 and settle on June 30.

UBS Financial Services Inc. and J.P. Morgan Securities LLC are the underwriters.

© 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.