JPMorgan plans upside autocallable reverse exchangeables on Silver Wheaton

By Jennifer Chiou

New York, June 18 – JPMorgan Chase & Co. plans to price upside autocallable reverse exchangeable notes due July 6, 2015 linked to the common stock of Silver Wheaton Corp., according to an FWP with the Securities and Exchange Commission.

The notes will carry a coupon of 8.25% to 10.25% per year. Interest will be payable monthly, and the exact rate will be set at pricing.

The notes will be called at par if Silver Wheaton stock closes at or above the initial share price on Dec. 30, 2014 or March 30, 2015.

If the notes are not called, the payout at maturity will be par unless Silver Wheaton stock closes below the buffer level, 70% of the initial share price, during the life of the notes and finishes below the initial price, in which case the payout will be a number of Silver Wheaton shares equal to $1,000 divided by the initial share price.

The notes (Cusip: 48127DMV7) are expected to price on June 30 and settle on July 3.

J.P. Morgan Securities LLC is the agent.

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