JPMorgan plans contingent income autocallables linked to Schlumberger

By Jennifer Chiou

New York, Oct. 21 – JPMorgan Chase & Co. plans to price contingent income autocallable securities due Oct. 27, 2017 linked to the common stock of Schlumberger Ltd., according to an FWP with the Securities and Exchange Commission.

If Schlumberger shares close at or above the downside threshold level, 80% of the initial share price, on a quarterly determination date, the notes will pay a contingent payment that quarter at an annualized rate of at least 10%. The exact rate will be set at pricing.

If the final share price is greater than or equal to the downside threshold level, the payout at maturity will be par of $10 plus the final contingent coupon. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price or, at the issuer’s option, receive a number of Schlumberger shares equal to $10 divided by the initial share price.

The notes (Cusip: 48127H323) will price on Oct. 24.

J.P. Morgan Securities LLC is the agent with Morgan Stanley Wealth Management as distributor.

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