JPMorgan plans autocallable contingent interest notes on S&P, Russell

By Wendy Van Sickle

Columbus, Ohio, May 5 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due May 11, 2017 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by JPMorgan Chase & Co.

The notes will pay a contingent quarterly coupon at an annual rate between 7% and 9% if each index closes at or above its barrier level, 67.5% of its initial level, on the review date for that quarter.

The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any review other than the final date.

The payout at maturity will be par unless either index finishes below its initial level and either index has closed below its barrier level any day during the life of the notes, in which case investors will be fully exposed to the loss of the worse performing index.

The exact deal terms will be set at pricing.

J.P. Morgan Securities LLC is the agent.

The notes will price on May 6 and settle on May 11.

The Cusip number is 46646ECC4.

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