Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers S > Headlines for S&P 500 index > News item |
JPMorgan plans contingent interest autocallables on S&P, Russell 2000
By Angela McDaniels
Tacoma, Wash., Nov. 3 – JPMorgan Chase & Co. plans to price autocallable contingent interest notes due Feb. 29, 2016 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 7% to 9% if each index closes at or above its barrier level, 70% of its initial level, on the review date for that quarter. The exact rate will be set at pricing.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date other than the final review date.
If the notes have not been called, the payout at maturity will be par unless either index closes below its barrier level during the life of the notes and the final level of either index is less than its initial level, in which case investors will be fully exposed to the decline of the lesser-performing index.
J.P. Morgan Securities LLC is the agent.
The notes will price Nov. 24 and settle Nov. 28.
The Cusip number is 48127DS66.
© 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.