JPMorgan plans to price contingent income autocallables tied to Apple

By Wendy Van Sickle

Columbus, Ohio, Jan. 14 – JPMorgan Chase & Co. plans to price contingent income autocallable securities due Jan. 25, 2019 linked to the common stock of Apple Inc., according to a 424B2 filed with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of at least 11.45% if the stock closes at or above 75% of its initial level on any quarterly determination date. The exact coupon rate will be set at pricing.

The notes will be called at par of $10 plus the contingent coupon if the stock closes at or above the initial level on any determination date other than the final date.

The payout at maturity will be par plus the final coupon unless the stock finishes below the 75% trigger level, in which case investors will be fully exposed to any losses.

J.P. Morgan Securities LLC is the agent.

The notes (Cusip: 48128A368) will price on Jan. 22 and settle three business days after pricing.

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