JPMorgan plans contingent coupon callable yield notes on indexes, ETF

By Marisa Wong

Morgantown, W.Va., Sept. 14 – JPMorgan Chase & Co. plans to price contingent coupon callable yield notes due Sept. 28, 2017 linked to the least performing of the S&P 500 index, the Russell 2000 index and the iShares MSCI EAFE exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at the rate of at least 12% per year if each underlying component closes at or above its barrier level, 70% of its initial level, on the observation date for that quarter.

The payout at maturity will be par unless any underlying component finishes below its barrier level, in which case investors will be fully exposed to the decline of the least-performing underlying component.

The notes are callable at par on any interest payment date other than the final one.

J.P. Morgan Securities LLC is the agent.

The notes will price on Sept. 25 and settle on Sept. 30.

The Cusip number is 48125U4N9.

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