JPMorgan plans trigger phoenix autocallables tied to Boston Scientific

By Toni Weeks

San Diego, Feb. 14 - JPMorgan Chase & Co. plans to price trigger phoenix autocallable optimization securities due Feb. 22, 2013 linked to the common stock of Boston Scientific Corp., according to an FWP filing with the Securities and Exchange Commission.

If the price of Boston Scientific stock closes at or above the trigger price - 75% of the initial share price - on any of four quarterly observation dates, the issuer will pay a contingent coupon of 13.75% to 16.75% per year. Otherwise, no coupon will be paid for that quarter. The exact rate will be set at pricing.

If the share price is greater than or equal to the initial price on any of the observation dates, the notes will be called at par of $10 plus the contingent coupon.

If the notes are not called and the Boston Scientific share price finishes at or above the trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to any share price decline.

The notes (Cusip: 48126B327) are expected to price Feb. 17 and settle Feb. 23.

UBS Financial Services Inc. is the underwriter, and J.P. Morgan Securities LLC is the agent.

© 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.