JPMorgan plans contingent interest autocallables tied to Russell, S&P

By Angela McDaniels

Tacoma, Wash., March 31 – JPMorgan Chase & Co. plans to price autocallable contingent interest notes due July 29, 2016 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at an annual rate of 6% to 8% if each index closes at or above its barrier level, 70% of its initial level, on the review date for that quarter. The exact contingent interest rate will be set at pricing.

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

If the notes have not been called, the payout at maturity will be par unless either index finishes below its initial level and either index close below its barrier level during the life of the notes, in which case investors will be fully exposed to the decline of the lesser-performing index.

J.P. Morgan Securities LLC is the agent.

The notes are expected to price April 27 and settle April 30.

The Cusip number is 48125ULL4.

© 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.