JPMorgan plans contingent interest autocalls on index, ETF

By Sarah Lizee

Olympia, Wash., Jan. 21 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due Jan. 27, 2025 linked to the lesser performing of the Nasdaq-100 index and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at the rate of 7% per year if each asset closes at or above its interest barrier, 70% of its initial level, on the review date for that quarter.

The notes will be automatically called at par plus the contingent coupon if each asset closes at or above its initial level on any quarterly review date other than the final one.

If the notes have not been called, the payout at maturity will be par unless any asset finishes below its trigger level, 70% of its initial level, in which case investors will lose 1% for every 1% that the lesser-performing asset declines.

The notes are guaranteed by JPMorgan Chase & Co.

J.P. Morgan Securities LLC is the agent.

The notes will price on Jan. 22.

The Cusip number is 48132HUW0.

© 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.