JPMorgan plans contingent income autocallables linked to GE

By Sarah Lizee

Olympia, Wash., July 12 – JPMorgan Chase Financial Co. LLC plans to price contingent income autocallable securities due Jan. 24, 2020 linked to the common stock of General Electric Co., according to a 424B2 filing with the Securities and Exchange Commission.

If the shares close at or above the downside threshold level, 75% of the initial share price, on a month determination date, the notes will pay a contingent payment that month at an annualized rate of at least 12.99%. The exact rate will be set at pricing.

The notes will be called at par of $10 plus the contingent coupon if the shares close at or above the initial share price on any coupon determination date other than the final one.

If the final share price is greater than or equal to the downside threshold level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.

The notes will be guaranteed by JPMorgan Chase & Co.

J.P. Morgan Securities LLC is the agent. Morgan Stanley Smith Barney LLC is handling distribution.

The notes are expected to price July 19.

The Cusip number is 48132E281.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.