JPMorgan plans contingent interest autocallables tied to three stocks

By Devika Patel

Knoxville, Tenn., Sept. 16 – JPMorgan Chase & Co. plans to price autocallable contingent interest notes due Sept. 27, 2018 linked to the least performing of the common stock of Lockheed Martin Corp., the common stock of Northrop Grumman Corp., and the common stock of Boeing Co., according to an FWP filed with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of at least 9% if each stock closes at or above its interest barrier level, 60% of its initial level, on the review date for that month. The exact coupon will be set at pricing.

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

The payout at maturity will be par plus the contingent coupon unless any stock finishes below its 60% trigger level, in which case investors will lose 1% for each 1% decline of the worst performing stock.

J.P. Morgan Securities LLC is the agent.

The notes (Cusip: 46646EC67) will price on Sept. 23 and settle Sept. 30.

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