JPMorgan plans autocallable reverse exchangeables tied to Alibaba

By Marisa Wong

Morgantown, W.Va., Sept. 8 – JPMorgan Chase & Co. plans to price 8.5% to 10.5% autocallable reverse exchangeable notes due Sept. 20, 2016 linked to Alibaba Group Holding Ltd. American Depositary Shares, according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly, with the exact coupon to be set at pricing.

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

The payout at maturity will be par unless Alibaba stock ever closes below the 65% trigger level during the life of the notes and finishes below the initial level, in which case the payout will be a number of Alibaba shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.

J.P. Morgan Securities LLC is the agent.

The notes will price on Sept. 15 and settle on Sept. 18.

The Cusip number is 46625HND8.

© 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.