JPMorgan plans contingent income autocallables tied to First Solar

By Wendy Van Sickle

Columbus, Ohio, Dec. 9 – JPMorgan Chase Financial Co. LLC plans to price contingent income autocallable securities due Dec. 21, 2017 linked to First Solar, Inc. shares, 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 annualized rate of at least 12.1% if First Solar stock closes at or above its 60% downside threshold on the observation date for that quarter.

The notes will be redeemed at par of $10 plus the contingent payment if the stock closes at or above its initial level on any determination date other than the final date.

The payout at maturity will be par plus the final coupon unless the stock finishes below the downside threshold, in which case investors will be fully exposed to any losses.

J.P. Morgan Securities LLC is the agent.

The notes will price on Dec. 16.

The Cusip number is 46646QJN6.

© 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.