JPMorgan plans 10% autocallable reverse exchangeables linked to Sony

By Susanna Moon

Chicago, June 7 - JPMorgan Chase & Co. plans to price 10% upside autocallable reverse exchangeable notes due June 27, 2014 linked to the American Depositary Shares of Sony Corp. shares, according to an FWP filing with the Securities and Exchange Commission.

Interest is payable monthly, with the exact amount to be set at pricing.

The notes will be called at par plus accrued interest if Sony shares close at or above the initial share price on any of three quarterly call dates.

The payout at maturity will be par in cash unless Sony shares finishes below the 70% trigger level, in which case investors will receive a number of Sony shares equal to $1,000 divided by the initial share price or, at JPMorgan's option, the cash equivalent.

J.P. Morgan Securities LLC is the agent.

The notes will price on June 25 and settle on June 28.

The Cusip number is 48126NEG8.

© 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.