JPMorgan plans 13% upside autocallable reverse exchangeables linked to Netflix

By Angela McDaniels

Tacoma, Wash., Feb. 3 - JPMorgan Chase & Co. plans to price upside autocallable single observation reverse exchangeable notes due Feb. 16, 2012 linked to the common stock of Netflix, Inc., according to an FWP filing with the Securities and Exchange Commission.

The coupon will be at least 13% and will be set at pricing. Interest will be payable monthly.

The notes will be called at par if Netflix stock closes above the initial share price on May 11, Aug. 11, 2011, Nov. 10, 2011 or Feb. 13, 2012.

The payout at maturity will be par unless the final share price is less than 75% of the initial share price, in which case the payout will be a number of Netflix shares equal to $1,000 divided by the initial share price or, at JPMorgan's option, a cash amount equal to the value of those shares.

The notes (Cusip: 48125XDM5) are expected to price Feb. 11 and settle Feb. 16.

J.P. Morgan Securities LLC is the agent.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.