JPMorgan plans autocallable contingent interest notes linked to Apple

By Tali Rackner

Norfolk, Va., Oct. 13 – JPMorgan Chase & Co. plans to price autocallable contingent interest notes due Oct. 21, 2020 linked to the common stock of Apple Inc., according to an FWP filing with the Securities and Exchange Commission.

Each quarter, the notes pay a contingent coupon of at least 9.5% per year if Apple shares close at or above the barrier level, 70% of the initial share price, on the review date for that quarter. The exact contingent coupon rate will be set at pricing.

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 review date other than the first, second, third and final review dates.

The payout at maturity will be par plus the contingent coupon unless Apple shares finish below the 70% trigger level, in which case investors will be exposed to any losses.

J.P. Morgan Securities LLC is the agent.

The notes will price Oct. 16 and settle Oct. 21.

The Cusip number is 48128GAG5.

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