JPMorgan eyes autocallable contingent interest notes on Bristol-Myers

By Devika Patel

Knoxville, Tenn., April 19 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due May 9, 2018 linked to Bristol-Myers Squibb Co. common shares, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by JPMorgan Chase & Co.

The notes will pay a contingent quarterly coupon at an annual rate of 10% if the stock closes at or above the 75% coupon barrier level on the determination date for that quarter.

The notes will be called at par plus the contingent coupon if the stock closes at or above the initial level on any quarterly call review date other than the final one, beginning on Aug. 3.

The payout at maturity will be par plus the final contingent interest payment unless the final share price is lower than the 75% trigger level, in which case investors will lose 1% for each 1% decline of the stock from its initial level.

J.P. Morgan Securities LLC is the agent.

The notes (Cusip: 46646QRE7) will price on April 21 and settle April 26.

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