JPMorgan plans contingent interest autocallables tied to Wynn, Varco

By Angela McDaniels

Tacoma, Wash., July 16 – JPMorgan Chase & Co. plans to price autocallable contingent interest notes due July 20, 2018 linked to the lesser performing of the common stocks of Wynn Resorts, Ltd. and National Oilwell Varco, Inc., according to an FWP filing with the Securities and Exchange Commission.

Every six months, the notes will pay a coupon at the rate of 20% per year if each stock closes at or above its barrier price on the review date for that semiannual period. For each stock, the barrier price is expected to be 64% or less of its initial share price and will be set at pricing.

The notes will be automatically called at par plus the coupon if each stock closes at or above its initial share price on any semiannual review date other than the final review date.

If the notes have not been called, the payout at maturity will be par plus the contingent coupon unless either stock finishes below its barrier price, in which case investors will be fully exposed to the decline of the lesser-performing stock.

J.P. Morgan Securities LLC is the agent.

The notes are expected to price July 17 and settle July 22.

The Cusip number is 48125UA77.

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