JPMorgan plans autocallable contingent interest notes on S&P, Russell

By Tali Rackner

Norfolk, Va., Oct. 13 – JPMorgan Chase & Co. plans to price autocallable contingent interest notes due Oct. 31, 2016 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of at least 5.6% if each index closes at or above its barrier level, 60% of its initial level, on the review date for that quarter. The exact rate will be set at pricing.

The notes will be called at par of $1,000 plus the contingent coupon if each index closes at or above its initial level on any quarterly review date other than the final date.

The payout at maturity will be par unless either index finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the lesser-performing index.

J.P. Morgan Securities LLC is the agent.

The notes will price on Oct. 23 and settle on Oct. 28.

The Cusip number is 48128GAJ9.

© 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.