JPMorgan plans autocallable contingent interest notes on Apple shares

By Wendy Van Sickle

Columbus, Ohio, May 16 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due May 31, 2019 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by JPMorgan Chase & Co.

Each month, the notes will pay a contingent coupon at the rate of at least 8% per year if Apple shares close at or above the trigger level, 70% of the initial share price, on the review date for that month.

The notes will be automatically called at par plus the contingent coupon if Apple shares close at or above the initial share price on any quarterly autocall review date from Nov. 10, 2016 to Feb. 25, 2019.

The payout at maturity will be par plus the final contingent interest payment unless the final share price is less than the trigger level, in which case investors will be fully exposed to the decline in the share price.

J.P. Morgan Securities LLC is the agent.

The notes will price on May 25.

The Cusip number is 46646EDF6.

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