JPMorgan to price contingent income autocallables linked to Hess

By Marisa Wong

Madison, Wis., Jan. 23 – JPMorgan Chase & Co. plans to price contingent income autocallable securities due Feb. 2, 2018 linked to Hess Corp. shares, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon of at least 2.375% if Hess stock closes at or above the 70% downside threshold level on the determination date for that quarter. The exact coupon will be set at pricing.

If the shares close at or above the initial share price on any of quarterly determination date other than the final determination date, the notes will be called at par plus the contingent coupon.

If the notes are not called and Hess stock finishes at or above the 70% downside threshold level, the payout at maturity will be par plus the contingent payment.

Otherwise, investors will receive a number of shares of Hess stock equal to $10 divided by the initial share price or, at the issuer’s option, the cash value of those shares.

J.P. Morgan Securities LLC is the agent with Morgan Stanley Wealth Management handling distribution.

The notes will price on Jan. 30.

The Cusip number is 48127R750.

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