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JPMorgan plans contingent income autocallables linked to Whole Foods
By Susanna Moon
Chicago, Oct. 23 – JPMorgan Chase & Co. plans to price contingent income autocallable securities due Oct. 29, 2015 linked to Whole Foods Market, Inc. shares, according to an FWP with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon of at least 2.5% if Whole Foods stock closes at or above the 80% downside threshold level on the determination date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial shares price on any determination date other than the final date.
If the notes are not called and Whole Foods stock finishes at or above the downside threshold level, the payout at maturity will be par plus the contingent payment.
Otherwise, investors will receive a number of shares of Whole Foods stock equal to $10 divided by the initial share price or, at the issuer’s option, the cash value of those shares.
J.P. Morgan Securities LLC is the agent with Morgan Stanley Wealth Management handling distribution.
The notes will price on Oct. 24.
The Cusip number is 48127H216.
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