JPMorgan plans 9.9% fixed-coupon autocallables tied to Hewlett-Packard

By Angela McDaniels

Tacoma, Wash., Jan. 31 - JPMorgan Chase & Co. plans to price fixed-coupon autocallable securities due Feb. 12, 2015 linked to the common stock of Hewlett-Packard Co., according to an FWP filing with the Securities and Exchange Commission.

The interest rate is expected to be at least 9.9% and will be set at pricing. Interest will be payable quarterly.

The notes will be called at par of $10 if Hewlett-Packard stock closes at or above the initial share price on May 7, 2014, Aug. 7, 2014 or Nov. 7, 2014.

If the final share price is at least 80% of the initial share price, the payout at maturity will be par. Otherwise, the payout will be the cash value (the final share price multiplied by the quotient obtained by dividing $10 by the initial stock price) or, at the issuer's option, a number of Hewlett-Packard shares equal to $10 divided by the initial share price.

J.P. Morgan Securities LLC is the agent. Distribution is through Morgan Stanley Smith Barney LLC.

The notes are expected to price Feb. 7.

The Cusip number is 48127E601.

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