JPMorgan plans callable contingent interest notes tied to three stocks

By Angela McDaniels

Tacoma, Wash., April 5 – JPMorgan Chase & Co. plans to price callable contingent interest notes due May 2, 2019 linked to the least performing of the American Depositary Shares of BP plc, the class C capital stock of Alphabet Inc. and the common stock of T-Mobile US, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Each month, the notes will pay a contingent coupon if each stock closes at or above its interest barrier, 60% of its initial share price, on the review date for that month. The contingent interest rate is expected to be 8% to 11% per year and will be set at pricing.

Beginning Nov. 1, 2016, the notes will be callable at par plus the contingent coupon on any quarterly optional call payment date.

If the notes have not been called, the payout at maturity will be par unless any stock finishes below its trigger value, 50% of its initial share price, in which case investors will be fully exposed to the decline of the least-performing index.

J.P. Morgan Securities LLC is the agent.

The notes will price April 25.

The Cusip number is 48128GVT4.

© 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.