JPMorgan plans autocallable contingent interest notes on YUM! Brands

By Marisa Wong

Madison, Wis., Oct. 15 - JPMorgan Chase & Co. plans to price autocallable contingent interest notes due Nov. 5, 2014 linked to YUM! Brands, Inc. shares, according to an FWP with the Securities and Exchange Commission.

If YUM! Brands shares close at or above the trigger level, 85% of the initial share price, on a quarterly review date, the notes will pay a coupon at an annual rate of 11% for that quarter.

If the shares close at or above the initial share price on any review date other than the final review date, the notes will be called at par plus the coupon.

If the notes have not been called and the stock finishes at or above the trigger level, the payout at maturity will be par plus the coupon.

Otherwise, investors will be fully exposed to any losses.

The notes (Cusip: 48126NXX0) are expected to price on Oct. 18 and settle on Oct. 23.

J.P. Morgan Securities LLC is the agent.

© 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.