JPMorgan plans contingent interest autocallables linked to Allergan

By Susanna Moon

Chicago, Aug. 26 – JPMorgan Chase & Co. plans to price autocallable contingent interest notes due Sept. 14, 2016 linked to Allergan, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 11% if Allergan shares close at or above the trigger level, 80% of the initial share price, on the review date for that quarter.

The notes will be called at par plus the contingent coupon if Allergan shares close at or above the initial share price on any review date other than the final review date.

The payout at maturity will be par plus the final contingent interest payment unless Allergan stock finishes below the 80% trigger level, in which case investors will receive par plus the return with exposure to any losses.

J.P. Morgan Securities LLC is the agent.

The notes will price on Aug. 28 and settle on Sept. 2.

The Cusip number is 48125US52.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.