JPMorgan plans autocallable reverse exchangeables on energy stocks

By Marisa Wong

Morgantown, W.Va., Oct. 20 – JPMorgan Chase & Co. plans to price 9% autocallable reverse exchangeable notes due May 1, 2017 linked to the least performing of the common stocks of Exxon Mobil Corp., Schlumberger NV, ConocoPhillips and Valero Energy Corp., according to an FWP filing with the Securities and Exchange Commission.

Interest is payable monthly.

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

If the notes are not called, the payout at maturity will be par unless the final share price of any stock is less than the trigger price, 55% of the initial share price, in which case the payout will be a number of shares of the least performing stock equal to $1,000 divided by the initial share price of that stock.

J.P. Morgan Securities LLC is the agent.

The notes will price on Oct. 26 and settle on Oct. 29.

The Cusip number is 46625HNW6.

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