JPMorgan plans autocallable contingent interest notes linked to EOG

By Marisa Wong

Madison, Wis., Dec. 9 – JPMorgan Chase & Co. plans to price autocallable contingent interest notes due Dec. 30, 2015 linked to the common stock of EOG Resources, Inc., according to an FWP with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at an annual rate of 13% if EOG shares close at or above the barrier price, 70% of the initial share price, on the review date for that quarter.

The notes will be automatically called at par plus the contingent coupon if EOG shares close at or above the initial share price 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 the stock closes below the 70% trigger price on any day during the life of the notes and finishes below the initial price, in which case investors will receive a number of EOG shares equal to $1,000 divided by the initial price or, at the issuer’s option, the cash value of those shares.

J.P. Morgan Securities LLC is the agent.

The notes will price on Dec. 12 and settle on Dec. 17.

The Cusip number is 48127D3E6.

© 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.