JPMorgan plans contingent income autocallables tied to Las Vegas Sands

By Marisa Wong

Madison, Wis., Dec. 6 - JPMorgan Chase & Co. plans to price contingent income autocallable securities due Dec. 20, 2013 linked to Las Vegas Sands Corp. shares, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly payment of 2.525% to 3.275% if Las Vegas Sands stock closes at or above the 70% downside threshold level on the determination date for that quarter. Otherwise, no contingent payment will be made that quarter.

If the shares close at or above the initial price on any of the first three determination dates, the notes will be called at par plus the contingent coupon.

If Las Vegas Sands stock finishes at or above the downside threshold level, the payout at maturity will be par plus the contingent payment. Otherwise, the payout will be a number of Las Vegas Sands shares equal to $10 divided by the initial share price or, at the issuer's option, the cash equivalent.

J.P. Morgan Securities LLC will be the agent.

The notes are expected to price on Dec. 17 and settle three business days later.

The Cusip number is 48124B816.

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