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JPMorgan plans autocallable notes tied to S&P 500, FTSE 100
By Susanna Moon
Chicago, March 2 – JPMorgan Chase & Co. plans to price autocallable notes due March 28, 2019 linked to the lesser performing of the S&P 500 index and the FTSE 100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of at least 13% if each index closes at or above its call level on any of three annual review dates.
The call level will be 100% of the initial level on March 31, 2017, stepping down to 95% of the initial level on March 26, 2018 and to 90% of the initial level on March 25, 2019.
The payout at maturity will be par unless either index closes below its 75% trigger level, in which case investors will be fully exposed any losses of the worse performing index.
J.P. Morgan Securities LLC is the agent.
The notes will price on March 24 and settle on March 30.
The Cusip number is 48128GQS2.
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