JPMorgan to price autocallable reverse exchangeables linked to Ford

By Angela McDaniels

Tacoma, Wash., Aug. 4 – JPMorgan Chase & Co. plans to price autocallable reverse exchangeable notes due Aug. 22, 2016 linked to the common stock of Ford Motor Co., according to an FWP filing with the Securities and Exchange Commission.

The coupon is expected to be at least 6.5% per year and will be set at pricing. Interest will be payable monthly.

The notes will be called at par if Ford stock closes at or above the initial share price on Feb. 16, 2016 or May 16, 2016.

If the notes are not called, the payout at maturity will be par unless Ford stock closes below the trigger level, 80% of the initial share price, during the life of the notes and finishes below the initial price, in which case the payout will be a number of Ford shares equal to $1,000 divided by the initial share price.

J.P. Morgan Securities LLC is the agent.

The notes will price Aug. 14 and settle Aug. 19.

The Cusip number is 46625HMU1.

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