JPMorgan plans contingent income autocallable notes on Alphabet

By Wendy Van Sickle

Columbus, Ohio, Nov. 1 – JPMorgan Chase Financial Co. LLC plans to price contingent income autocallable securities due Nov. 7, 2019 linked to Alphabet Inc. class A common shares, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by JPMorgan Chase & Co.

The notes will pay a contingent quarterly coupon at an annualized rate of 8.15% if Alphabet stock closes at or above its 80% downside threshold level on the observation date for that quarter.

The notes will be redeemed at par of $10 plus the contingent payment if the stock closes at or above the redemption threshold on any determination date other than the final date. The redemption threshold is 105% of the initial price on the first four dates, 110% on the next four dates and 115% on the final three call determination dates.

The payout at maturity will be par plus the final coupon unless the stock finishes below the downside threshold level, in which case investors will lose 1% for every 1% that the final share price is less than the initial share price.

J.P. Morgan Securities LLC is the agent.

The notes (Cusip: 48128P720) will price on Nov. 4 and settle three business days after pricing.

© 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.