JPMorgan to price averaging notes linked to S&P 500 with 14% floor

By Marisa Wong

Madison, Wis., Oct. 15 - JPMorgan Chase & Co. plans to price 0% notes due Oct. 21, 2020 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.

The payout at maturity will be par plus at least 100% of the index return, subject to a minimum return of 14%. The exact participation rate will be set at pricing.

The final index level will be the average of the index closing levels on the quarterly averaging dates beginning Jan. 16, 2014 and ending Oct. 16, 2020.

The notes (Cusip: 48126NXS1) are expected to price on Oct. 16 and settle on Oct. 21.

J.P. Morgan Securities LLC is the agent.

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