JPMorgan plans contingent interest autocallables on ICE swap rate

By Marisa Wong

Morgantown, W.Va., May 13 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due May 22, 2017 linked to the 10-year U.S. dollar ICE swap rate, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by JPMorgan Chase & Co.

Interest will be payable quarterly at 7% to 9% per year if the reference rate closes at or above its 65% barrier on the observation date for that quarter. The exact rate will be set at pricing.

The notes will be called at par plus the contingent payment if the reference rate closes at or above its initial level on any observation date other than the final one.

The payout at maturity will be par unless the reference rate falls below the 65% trigger level, in which case investors will be fully exposed to the index’s decline from its initial level.

J.P. Morgan Securities LLC is the agent.

The notes are will price on May 16 and settle on May 19.

The Cusip number is 46646EBP6.

© 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.