JPMorgan to price 8.25% callable yield notes linked to Microsoft stock

By Devika Patel

Knoxville, Tenn., March 18 – JPMorgan Chase & Co. plans to price callable yield notes due March 26, 2018 linked to the common stock of Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.

The coupon is expected to be at least 8.25% and will be set at pricing. Interest will be payable quarterly.

The notes are callable at par on any interest payment date other than the final one.

If the notes are not called, the payout at maturity will be par unless the stock finishes below the trigger value, 75% of the initial share price, in which case investors will receive a number of Microsoft shares equal to $1,000 divided the initial share price.

J.P. Morgan Securities LLC is the agent.

The notes (Cusip: 46625HQT0) will price on March 21 and settle on March 24.

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