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JPMorgan plans contingent coupon callable notes on indexes, fund
By Susanna Moon
Chicago, Jan. 4 - JPMorgan Chase & Co. plans to price contingent coupon callable yield notes due July 31, 2015 linked to the S&P 500 index, the Russell 2000 index and the iShares MSCI EAFE index fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annualized rate of 7% if each of the underlying components close at or above the 60% barrier level on the observation date for that quarter.
The notes are callable at par plus the contingent coupon on any interest payment date.
The payout at maturity will be par unless either index or the fund finishes below its 60% knock-in level, in which case investors will receive par plus the return of the worst performing component.
J.P. Morgan Securities LLC is the agent.
The notes will price on Jan. 28 and settle on Jan. 31.
The Cusip number is 48126DSA8.
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