JPMorgan plans autocallable contingent interest notes on Valeant

By Marisa Wong

Madison, Wis., Sept. 4 – JPMorgan Chase & Co. plans to price autocallable contingent interest notes due Sept. 23, 2015 linked to the common stock of Valeant Pharmaceuticals International, Inc., 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 16.25% if Valeant Pharmaceuticals shares close at or above the trigger price, 75% of the initial share price, on the review date for that quarter.

The notes will be automatically called at par plus the contingent coupon if Valeant Pharmaceuticals shares close at or above the initial share price on Dec. 18, March 19, 2015 or June 18, 2015.

If the notes have not been called, the payout at maturity will be par plus the final coupon unless the final share price is less than the trigger price, in which case investors will lose 1% for every 1% that the final share price is less than the initial share price.

J.P. Morgan Securities LLC is the agent.

The notes will price on Sept. 5 and settle on Sept. 10.

The Cusip number is 48127DZH4.

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