Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers M > Headlines for Morgan Stanley > News item |
JPMorgan plans contingent interest autocallables tied to two stocks
By Susanna Moon
Chicago, Aug. 16 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due Sept. 2, 2020 linked to the least performing of the common shares of MetLife, Inc. and Morgan Stanley, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9% to 10% if each stock closes at or above its 65% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any review date other than the first and final dates.
The payout at maturity will be par unless either stock finishes below its 65% trigger level, in which case investors will lose 1% for each 1% decline of the worse performing stock.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
The notes will price on Aug. 28.
The Cusip number is 46647MM59.
© 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.