JPMorgan to price contingent income autocallables linked to L Brands

By Susanna Moon

Chicago, June 16 – JPMorgan Chase & Co. plans to price contingent income autocallable securities due June 23, 2017 linked to L Brands Inc. shares, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of at least 8% if L Brands stock closes at or above the 80.25% barrier level on the determination date for that quarter.

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

If the notes are not called and L Brands stock finishes at or above the 80.25% barrier level, the payout at maturity will be par plus the contingent payment.

Otherwise, investors will receive a number of shares of L Brands 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 Smith Barney LLC handling distribution.

The notes will price on June 20.

The Cusip number is 481246502.

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