JPMorgan plans contingent coupon callable notes linked to Under Armour

By Angela McDaniels

Tacoma, Wash., May 22 – JPMorgan Chase & Co. plans to price contingent coupon callable yield notes due June 1, 2017 linked to the class A common stock of Under Armour, Inc., according to an FWP filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at the rate of 8% per year if the stock closes at or above its barrier level, 70% of its initial share price, on the observation date for that quarter.

The payout at maturity will be par unless the stock finishes below its barrier level, in which case investors will be fully exposed to the stock’s decline.

The notes will be callable at par on any interest payment date other than the final one.

J.P. Morgan Securities LLC is the agent.

The notes will price May 26 and settle May 29.

The Cusip number is 48125UUZ3.

© 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.