JPMorgan plans contingent coupon callable yield notes on SPDR oil fund

By Jennifer Chiou

New York, Jan. 28 – JPMorgan Chase & Co. plans to price contingent coupon callable yield notes due Feb. 2, 2017 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to an FWP with the Securities and Exchange Commission.

The notes will pay a quarterly coupon at an annualized rate of at least 15% if the fund closes at or above its 67.5% barrier level on the observation date for that quarter. The exact coupon will be set at pricing.

The notes are callable at par plus the contingent coupon, if any, on any interest payment date other than the final date.

The payout at maturity will be par unless the fund finishes below its 67.5% knock-in level, in which case investors will receive par plus the return.

The notes (Cusip: 48127D7E2) will price on Jan. 30 and settle on Feb. 4.

J.P. Morgan Securities LLC is the agent.

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