Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers J > Headlines for JPMorgan Chase & Co. > News item |
JPMorgan plans upside autocallable reverse exchangeables tied to Delta
By Angela McDaniels
Tacoma, Wash., Oct. 3 – JPMorgan Chase & Co. plans to price upside autocallable reverse exchangeable notes due Oct. 15, 2015 linked to the common stock of Delta Air Lines Inc., according to an FWP filing with the Securities and Exchange Commission.
The notes will carry a coupon of 9.75% to 11.75% per year. Interest will be payable monthly, and the exact rate will be set at pricing.
The notes will be called at par if Delta stock closes at or above the initial share price on April 9, 2015 or July 9, 2015.
If the notes are not called, the payout at maturity will be par unless Delta stock closes below the buffer level, 72.5% of the initial share price, during the life of the notes and finishes below the initial price, in which case the payout will be a number of Delta shares equal to $1,000 divided by the initial share price.
J.P. Morgan Securities LLC is the agent.
The notes are expected to price Oct. 9 and settle Oct. 15.
The Cusip number is 48127DJ58.
© 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.