JPMorgan plans airbag phoenix autocallables tied to Time Warner Cable

By Jennifer Chiou

New York, Dec. 16 – JPMorgan Chase & Co. plans to price airbag phoenix autocallable optimization securities due June 24, 2016 linked to the common stock of Time Warner Cable Inc., according to an FWP with the Securities and Exchange Commission.

Each month, the notes will pay a contingent coupon at the rate of 7.45% to 9.45% per year if Time Warner Cable shares close at or above the coupon barrier, 75% of the initial share price, on the observation date for that month.

The notes will be automatically called at par if Time Warner Cable shares close at or above the initial share price on any autocall observation date, which occur quarterly.

If the notes are not called and the final price of Time Warner Cable shares is greater than or equal to the conversion price, 85% of the initial share price, the payout at maturity will be par. Otherwise, investors will receive a number of Time Warner Cable shares equal to $1,000 divided by the conversion price.

The notes (Cusip: 48127P390) will price on Dec. 19 and settle on Dec. 24.

UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.

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