JPMorgan plans two-year autocallable securities linked to Russell 2000

By Toni Weeks

San Luis Obispo, Calif., Feb. 6 - JPMorgan Chase & Co. plans to price 0% autocallable securities due Feb. 19, 2016 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus a premium of 9.5% per year if the index closes at or above the initial level on any semiannual determination date other than the final date.

If the notes are not called and the final index level is greater than or equal to the initial level, the payout at maturity will be the maturity redemption payment of par plus 9.5%, or $11.90 per $10 note.

If the final index value is less than the initial level but greater than or equal to the downside threshold level, 80% of the initial level, the payout will be par. If the final index level is less than the 80% downside threshold level, investors will share fully in those losses.

J.P. Morgan Securities LLC is the agent.

The notes are expected to price Feb. 14 and settle three business days later.

The Cusip number is 48127E809.

© 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.