JPMorgan plans contingent coupon callable notes tied to three indexes

By Wendy Van Sickle

Columbus, Ohio, Feb. 18 – JPMorgan Chase & Co. plans to price contingent income callable securities due Feb. 23, 2018 linked to the worst performing of the Euro Stoxx 50 index, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at an annual rate of at least 12.25% if each index closes at or above its downside threshold level, 65% of its initial index level, on each day during the monitoring period for that quarter. The exact contingent coupon will be set at pricing.

The notes will be callable at par on any quarterly payment date other than the final one.

If each index finishes at or above its downside threshold level, the payout at maturity will be par plus the final contingent coupon, if due. If the final level of any index is less than its downside threshold level, investors will be fully exposed to the decline of the least-performing index.

J.P. Morgan Securities LLC is the agent. Morgan Stanley Wealth Management is a dealer.

The notes will price on Feb. 19.

The Cusip number is 48128GPA2.

© 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.