JPMorgan plans to price autocallable contingent interest notes on Ford

By Emma Trincal

New York, Jan. 6 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due Feb. 15, 2023 linked to the common stock of Ford Motor Co., according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by JPMorgan Chase & Co.

The notes will pay a monthly contingent interest payment at an annual rate of at least 10% if the stock closes above its 65% coupon barrier level on the relevant review date. The actual interest rate will be determined at pricing.

The notes will be automatically called at par plus the contingent interest payment if the stock closes at or above its initial level on any monthly review date after six months and other than the final review date.

The payout at maturity will be par plus the final contingent interest payment if the stock finishes at or above its trigger price, 65% of its initial price.

Otherwise, investors will be fully exposed to the decline of the stock from its initial price.

J.P. Morgan Securities LLC is the agent.

The notes are expected to price on Jan. 10 and to settle on Jan. 13.

The Cusip number is 48133CNM0.

© 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.