JPMorgan to price trigger phoenix autocallables linked to Hartford

By Toni Weeks

San Luis Obispo, Calif., Feb. 12 - JPMorgan Chase & Co. plans to price trigger phoenix autocallable optimization securities due Aug. 20, 2015 linked to Hartford Financial Services Group, Inc. shares, according to an FWP filing with the Securities and Exchange Commission.

If Hartford stock closes at or above the barrier level on a quarterly observation date, the notes will pay a contingent coupon at an annualized rate of 7.5% to 9.5% for that quarter. The barrier level is expected to be 75% of the initial price.

If the shares close at or above the initial price on any quarterly observation date, the notes will be called at par plus the contingent coupon.

If the notes are not called and Hartford shares finish at or above the 75% trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be fully exposed to losses.

The exact terms will be set at pricing.

The notes (Cusip: 48127E783) are expected to price Feb. 14 and settle Feb. 20.

J.P. Morgan Securities LLC is the underwriter, with UBS Financial Services Inc. as agent.

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