JPMorgan plans contingent interest autocallables on Russell, EM fund

By Susanna Moon

Chicago, July 23 – JPMorgan Chase & Co. plans to price autocallable contingent interest notes due Nov. 3, 2016 linked to the lesser performing of the Russell 2000 index and the iShares MSCI Emerging Markets ETF, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 7.25% if each component closes at or above the barrier level, 70% of the initial level, on the review date for that quarter.

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

The payout at maturity will be par plus the final contingent interest payment unless either component finishes below the 70% trigger level, in which case investors will receive par plus the return of the worse performing component.

J.P. Morgan Securities LLC is the agent.

The notes will price on July 31 and settle on Aug. 5.

The Cusip number is 48125UC67.

© 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.