JPMorgan plans contingent interest autocallables linked to SolarCity

By Susanna Moon

Chicago, July 14 – JPMorgan Chase & Co. plans to price autocallable contingent interest notes due Aug. 2, 2016 linked to SolarCity Corp. shares, according to an FWP with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of at least 16% if the stock closes at or above the trigger level, 50% of the initial share price, on the review date for that quarter.

The notes will be called at par plus the contingent coupon if SolarCity shares close at or above the initial share price on the second review date, the third review date or the fourth review date.

The payout at maturity will be par plus the contingent coupon unless the stock finishes below the initial level and ever dips below the 50% trigger level during the life of the notes, in which case investors will be fully exposed to any losses.

J.P. Morgan Securities LLC is the agent.

The notes will price on July 28 and settle on July 31.

The Cusip number is 48127DSD1.

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