JPMorgan plans autocallable contingent interest notes linked to Gilead

By Angela McDaniels

Tacoma, Wash., May 27 – JPMorgan Chase & Co. plans to price autocallable contingent interest notes due June 15, 2016 linked to the common stock of Gilead Sciences, Inc., according to an FWP filing with the Securities and Exchange Commission.

Each quarter, the notes pay a contingent coupon at an annual rate of 12% if Gilead shares close at or above the trigger level, 80% 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 Gilead shares close at or above the initial share price on any review date other than the final review date.

The payout at maturity will be par plus the final contingent interest payment unless the final share price is less than the trigger level, in which case investors will be fully exposed to the stock’s decline.

J.P. Morgan Securities LLC is the agent.

The notes will price May 29 and settle June 3.

The Cusip number is 48125UVD1.

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