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JPMorgan plans callable yield notes linked to Russell 2000, S&P 500
By Angela McDaniels
Tacoma, Wash., April 1 – JPMorgan Chase & Co. plans to price callable yield notes due May 1, 2017 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon is expected to be 7.5% to 9.5% per year and will be set at pricing. Interest will be payable monthly.
The notes will be callable at par on July 29, 2016, Oct. 31, 2016 or Jan. 31, 2017.
If the notes are not called, the payout at maturity will be par unless either index finishes below its initial level and either index closes below its trigger value, 70% of its initial level, during the life of the notes, in which case investors will lose 1% for every 1% that the lesser-performing index finishes below its initial level.
J.P. Morgan Securities LLC is the agent.
The notes will price April 26.
The Cusip number is 48128GUU2.
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