JPMorgan plans upside autocallable reverse exchangeables on Tenet

By Toni Weeks

San Luis Obispo, Calif., March 5 - JPMorgan Chase & Co. plans to price upside autocallable reverse exchangeable notes due March 13, 2015 linked to Tenet Healthcare Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

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

The notes will be called at par if the stock closes at or above the initial share price on any quarterly call date.

The payout at maturity will be par unless Tenet stock closes at or below the buffer level, 75% of the initial share price, during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Tenet shares equal to $1,000 divided by the initial share price.

The notes (Cusip: 48127DAP3) are expected to price March 10 and settle March 13.

J.P. Morgan Securities LLC is the agent.

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