JPMorgan plans contingent interest callable notes on indexes, fund

By Marisa Wong

Morgantown, W.Va., Sept. 11 – JPMorgan Chase & Co. plans to price callable contingent interest notes due March 25, 2019 linked to the worst performing of the S&P 500 index, the Russell 2000 index and the iShares MSCI EAFE exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 11% to 12% if each underlying component closes at or above its interest barrier, 70% of its initial level, on the review date for that quarter. The exact interest rate will be set at pricing.

JPMorgan may redeem the notes at par plus the contingent coupon on any interest payment date other than the first and final dates.

The payout at maturity will be par plus the contingent coupon unless any component finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worst performing component.

J.P. Morgan Securities LLC is the agent.

The notes will price on Sept. 18 and settle on Sept. 23.

The Cusip number is 48125U4L3.

© 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.