JPMorgan plans contingent income autocallables linked to GM

By Jennifer Chiou

New York, Sept. 26 - JPMorgan Chase & Co. plans to price contingent income autocallable securities due Oct. 5, 2016 linked to General Motors Co. shares, according to an FWP with the Securities and Exchange Commission.

If GM stock closes at or above the 70% downside threshold level on a quarterly review date, the notes will pay a contingent quarterly coupon at an annual rate of 8% for that quarter.

If the shares close at or above the initial price on any of the first 11 quarterly determination dates, the notes will be redeemed at par of $10 plus the contingent coupon.

If the notes are not called, the payout at maturity will be par plus the contingent payment unless the stock closes below the downside threshold level, in which case the payout will be a number of GM shares equal to $10 divided by the initial share price or, at the issuer's option, the cash equivalent.

The notes (Cusip: 48126H290) will price on Sept. 30.

J.P. Morgan Securities LLC is the agent.

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