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Prospect News home > News index > List of issuers F > Headlines for Ford Motor Co. > News item |
JPMorgan plans 7%-9% autocallable reverse exchangeables linked to Ford
By Susanna Moon
Chicago, Dec. 7 – JPMorgan Chase & Co. plans to price 7% to 9% autocallable reverse exchangeable notes due Dec. 22, 2016 linked to Ford Motor Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if the stock closes at or above its initial share price on any review date other than the final review date.
The payout at maturity will be par unless the stock finishes below its initial level and ever closes below its trigger level, 75% of the initial share price, during the life of the notes, in which case the payout will be a number of shares equal to $1,000 divided by the initial share price.
J.P. Morgan Securities LLC is the agent.
The notes will price on Dec. 16 and settle on Dec. 21.
The Cusip number is 46625HPL8.
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