JPMorgan plans autocallable reverse exchangeable notes tied to stocks

By Susanna Moon

Chicago, March 5 – JPMorgan Chase & Co. plans to price autocallable reverse exchangeable notes due Sept. 23, 2016 linked to the worst performing of the common stocks or capital stock of General Electric Co., International Business Machines Corp., Procter & Gamble Co. and Microsoft Corp., according to an FWP with the Securities and Exchange Commission.

The coupon will be at least 8%, payable monthly. The exact rate will be set at pricing.

The notes will be called at par if each stock closes at or above the initial share price on any quarterly review date.

The payout at maturity will be par unless any stock closes below the trigger level, 70% of the initial level, during the life of the notes and finishes below the initial price, in which case the payout will be a number of shares of the worst performing stock equal to $1,000 divided by the initial share price.

J.P. Morgan Securities LLC is the agent.

The notes will price on March 20 and settle on March 25.

The Cusip number is 48125UHU9.

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