JPMorgan plans contingent coupon callable yield notes tied to indexes

By Marisa Wong

Madison, Wis., Jan. 30 - JPMorgan Chase & Co. plans to price contingent coupon callable yield notes due Feb. 6, 2017 linked to the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon if each index closes at or above its barrier level, 65% of its initial level, on the observation date for that quarter. The contingent coupon is expected to be at least 8.1% per year, or at least 2.025% per quarter, and will be set at pricing.

The payout at maturity will be par unless any index finishes below its barrier level, in which case investors will be fully exposed to the decline of the worst-performing index.

The notes are callable at par plus the contingent coupon, if any, on any interest payment other than the final one.

J.P. Morgan Securities LLC is the agent.

The notes will price on Feb. 3 and settle on Feb. 6.

The Cusip number is 48126N2P1.

© 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.