JPMorgan amends maturity, pricing dates for contingent interest autocallables on three stocks

By Marisa Wong

Madison, Wis., June 16 – JPMorgan Chase & Co. amended the maturity and pricing dates for its upcoming autocallable contingent interest notes linked to the least performing of the common stock of Walt Disney Co., the common stock of Starbucks Corp. and the class B common stock of Nike, Inc., according to an amended FWP filing with the Securities and Exchange Commission.

The notes will now mature on July 6, 2018 instead of June 29, 2018.

The notes are expected to price on July 1 and settle on July 7, pushed back from June 26 and July 1, respectively.

Each month, the notes will pay a coupon if each stock closes at or above its interest barrier, 70% of its initial share price, on the review date for that month. The contingent coupon rate is expected to be at least 9% per year and will be set at pricing.

The notes will be automatically called at par plus the coupon if each stock closes at or above its initial share price on any quarterly review date.

If the notes have not been called, the payout at maturity will be par plus the contingent coupon, if any, unless any stock finishes below its 65% trigger price, in which case investors will be fully exposed to the decline of the least-performing stock.

J.P. Morgan Securities LLC is the agent.

The Cusip number is 48125UXM9.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.