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JPMorgan plans contingent coupon callable yield notes on fund, indexes
By Susanna Moon
Chicago, July 29 - JPMorgan Chase & Co. plans to price contingent coupon callable yield notes due Aug. 2, 2016 linked to the S&P 500 index, the Russell 2000 index and the iShares MSCI EAFE exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of at least 7% if each of the underlying components close at or above the 60% barrier level on the observation date for that quarter. The actual coupon will be set at pricing.
The notes are callable at par plus the contingent coupon on any interest payment date other than the last one.
The payout at maturity will be par unless any component finishes below its 60% knock-in level, in which case investors will receive par plus the return of the worst performing component.
J.P. Morgan Securities LLC is the agent.
The notes will price on July 30 and settle on Aug. 2.
The Cusip number is 48126NLL9.
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