JPMorgan to price trigger phoenix autocallables linked to Russell 2000

By Tali Rackner

Norfolk, Va., Dec. 15 – JPMorgan Chase & Co. plans to price trigger phoenix autocallable optimization securities due Dec. 20, 2018 linked to the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.

If the index closes at or above the trigger level, 70% of its initial level, on a semiannual observation date, the issuer will pay a semiannual contingent coupon at the rate of 8.5% to 9% per year. Otherwise, no coupon will be paid for that semiannual period. The exact contingent coupon rate will be set at pricing.

If the index closes at or above the initial level on a semiannual observation date, the notes will be called at par of $10 plus the contingent coupon.

If the notes are not called and the index finishes at or above the trigger level, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the index’s decline from the initial level.

UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.

The notes will price on Dec. 15 and settle on Dec. 18.

The Cusip number is 48128A772.

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