Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers O > Headlines for Occidental Petroleum Corp. > News item |
JPMorgan to price trigger phoenix autocallables linked to Occidental
By Toni Weeks
San Luis Obispo, Calif., Feb. 11 – JPMorgan Chase & Co. plans to price trigger phoenix autocallable optimization securities due Feb. 20, 2020 linked to Occidental Petroleum Corp. shares, according to an FWP filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 8% if the shares close at or above the coupon barrier, 72% to 77% of the initial price, on any monthly observation date.
The notes will be called at par if Occidental Petroleum stock closes at or above the initial price on any monthly observation date after one year.
The payout at maturity will be par unless the shares finish below the 72% to 77% trigger level, in which case the payout will be par plus the stock return, with full exposure to losses.
The exact terms will be set at pricing.
J.P. Morgan Securities LLC and UBS Financial Services Inc. are the agents.
The notes will price Feb. 13 and settle Feb. 19.
The Cusip number is 48127R396.
© 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.