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JPMorgan plans contingent interest autocallable notes linked to ING
By Susanna Moon
Chicago, June 9 – JPMorgan Chase & Co. plans to price autocallable contingent interest notes due June 29, 2016 linked to ING Groep NV shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 12.3% if ING shares close at or above the trigger level, 80% of the initial share price, on the review date for that quarter.
The notes will be called at par plus the contingent coupon if ING shares close at or above the initial share price on any review date other than the final review date.
The payout at maturity will be par plus the final contingent interest payment unless ING stock finishes below the 80% trigger level, in which case investors will receive par plus the return.
J.P. Morgan Securities LLC is the agent.
The notes will price on June 12 and settle on June 17.
The Cusip number is 48125UXB3.
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