JPMorgan plans 10% upside autocallable reverse exchangeables tied to three telecommunication stocks

By Toni Weeks

San Luis Obispo, Calif., Jan. 9 – JPMorgan Chase & Co. plans to price 10% upside autocallable single observation reverse exchangeable notes due July 26, 2016 linked to Verizon Communications Inc., T-Mobile US, Inc. and AT&T Inc., according to an FWP filing with the Securities and Exchange Commission.

Interest is payable monthly. The exact coupon will be set at pricing.

The notes will be called at par plus accrued interest if each stock closes at or above its initial share price on any of five quarterly call dates.

If the notes are not called, the payout at maturity will be par in cash, unless any stock finishes below its initial price by more than 30%, in which case investors will receive a number of shares of the least-performing stock equal to $1,000 divided by the initial share price or, at JPMorgan’s option, the cash equivalent.

The notes (Cusip: 48127D5X2) are expected to price Jan. 21 and settle Jan. 26.

J.P. Morgan Securities LLC is the agent.

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