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JPMorgan plans contingent interest autocallables linked to Valeant
By Susanna Moon
Chicago, Jan. 22 - JPMorgan Chase & Co. plans to price autocallable contingent interest notes due Feb. 11, 2015 linked to Valeant Pharmaceuticals International, Inc. shares, according to an FWP filing with the Securities and Exchange Commission.
If Val shares close at or above the trigger level, 75% of the initial share price, on a quarterly review date, the notes will pay a coupon at an annual rate of 21.25% for that quarter.
If the shares close at or above the initial share price on any review date other than the final review date, the notes will be called at par plus the coupon.
If the notes have not been called and the stock finishes at or above the trigger level, the payout at maturity will be par plus the coupon.
Otherwise, investors will be fully exposed to losses.
J.P. Morgan Securities LLC is the agent.
The notes will price on Jan. 24 and settle on Jan. 29.
The Cusip number is 48126NY92.
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