JPMorgan plans autocallable contingent interest notes tied to indexes

By Susanna Moon

Chicago, July 1 – JPMorgan Chase & Co. plans to price autocallable contingent interest notes due Oct. 31, 2016 linked to the worse performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a continent quarterly coupon at an annualized rate of 7% to 9% if each index closes at or above its coupon barrier level, 70% of its initial share price, on the review date for that quarter.

The notes will be called at par plus the coupon if each index closes at or above its initial level on any review date other than the final review date.

The payout at maturity will be par plus the contingent coupon unless either index finishes below its initial level and ever closes below the 70% trigger level during the life of the notes, in which case investors will be fully exposed to any losses of the worse performing index.

J.P. Morgan Securities LLC is the agent.

The notes will price on July 28 and settle on July 31.

The Cusip number is 48125UZA3.

© 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.