JPMorgan plans autocallable contingent interest notes on GM, Ford

By Marisa Wong

Madison, Wis., Sept. 2 – JPMorgan Chase & Co. plans to price autocallable contingent interest notes due Sept. 15, 2017 linked to the lesser performing of the common stock of General Motors Co. and the common stock of Ford Motor Co., according to an FWP filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a coupon of at least 8.35% per year if each stock closes at or above its trigger level, 70% of its initial share price, on the review date for that quarter.

If each stock closes at or above its respective initial share price on any review date other than the final review date, the notes will be called at par plus the coupon.

If the notes have not been called and each stock finishes at or above its trigger price, the payout at maturity will be par plus the coupon. Otherwise, investors will receive a number of shares of the lesser-performing stock equal to $1,000 divided by that stock’s initial price or, at the issuer’s election, the cash value of those shares.

J.P. Morgan Securities LLC is the agent.

The notes will price on Sept. 12 and settle on Sept. 17.

The Cusip number is 48127DYG7.

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