JPMorgan plans autocallable contingent interest notes linked to Valeant

By Tali Rackner

Norfolk, Va., Oct. 15 – JPMorgan Chase & Co. plans to price autocallable contingent interest notes due Nov. 2, 2016 linked to the common stock of Valeant Pharmaceuticals International, Inc., according to an FWP filing with the Securities and Exchange Commission.

Each quarter, the notes pay a contingent coupon at an annual rate of 19.25% if Valeant shares close at or above the barrier level, 50% of the initial share price, on the review date for that quarter.

The notes will be automatically called at par of $1,000 plus the contingent coupon if Valeant shares close at or above the initial share price on any review date other than the final review date.

The payout at maturity will be par plus the contingent coupon unless Valeant shares finish below the 50% trigger level, in which case investors will be exposed to any losses.

J.P. Morgan Securities LLC is the agent.

The notes will price Oct. 16 and settle Oct. 21.

The Cusip number is 48128GAS9.

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