JPMorgan plans contingent interest autocallables on Bank of America

By Tali Rackner

Norfolk, Va., Jan. 13 – JPMorgan Chase & Co. plans to price autocallable contingent interest notes due Feb. 1, 2017 linked to the common stock of Bank of America Corp., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 12.2% if the stock closes at or above its interest barrier level, 80% of its initial price, on the review date for that quarter.

The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any review date than the final date.

The payout at maturity will be par plus the contingent coupon unless the stock finishes below its 80% trigger level, in which case investors will be fully exposed to any losses.

J.P. Morgan Securities LLC is the agent.

The notes will price on Jan. 15 and settle on Jan. 21.

The Cusip number is 48128GKC3.

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