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JPMorgan plans digital contingent coupon notes due 2018 on 10 stocks
By Susanna Moon
Chicago, Feb. 2 - JPMorgan Chase Bank, NA plans to price digital contingent coupon notes due Feb. 28, 2018 linked to an equally weighted basket of 10 stocks, according to a term sheet.
The underlying companies are Barrick Gold Corp., CenturyLink, Inc., Kinross Gold Corp., Lorillard, Inc., Mead Johnson Nutrition Co., Altria Group, Inc., PG&E Corp., Time Warner Cable Inc., Verizon Communications Inc. and Walgreen Co.
The coupon will equal the sum of the weighted performances of the basket stocks, with a minimum coupon of 1%. If a basket stock's underlying return is at least zero, its performance will be equal to the coupon cap of at least 8.5%. If the underlying return is negative, the basket component's performance will be the greater of the stock return and negative 30%.
Interest is payable in February of each year.
The payout at maturity will be par.
J.P. Morgan Securities LLC is the agent.
The notes will price on Feb. 24 and settle on Feb. 29.
The Cusip number is 48125VME7.
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